Summary by Futu AI
KWG Group Holdings Limited (the "Company") announced that its five tranches of outstanding floating rate notes will be suspended from trading on The Stock Exchange of Hong Kong Limited (the "Exchange") from 16 May 2023 until further notice. These notes include the floating rate notes due in November 2024, August 2025, February and August 2026, and January 2027. This action is due to the occurrence of a covenant breach event on 14 May 2023. The Company is actively communicating with the holders of the notes and has appointed ADM Capital Advisory Limited as the financial advisor. KWG Group reminds investors to consider the relevant risks and act prudently when trading in the company's securities, and recommends that investors seek professional advice if they have any questions.