On August 20, 2024, kaisa group announced a restructuring plan involving the issuance of mandatory convertible ​bonds and the issuance of shares to members of the creditor group. The restructuring covers an outstanding principal amount of approximately 12.27 billion USD in debt and will issue six tranches of senior notes and eight tranches of mandatory convertible ​bonds. The company will seek special authorization at the shareholder special meeting to allocate and issue shares converted from mandatory convertible ​bonds.According to the restructuring plan, kaisa will pay 26,884,818 USD in work fees to members of the creditor group and will do so by issuing 2,100,000,000 shares. These shares will be issued after seeking special authorization at the shareholder special meeting. The company will apply to the...Show More

On August 20, 2024, kaisa group announced a restructuring plan involving the issuance of mandatory convertible ​bonds and the issuance of shares to members of the creditor group. The restructuring covers an outstanding principal amount of approximately 12.27 billion USD in debt and will issue six tranches of senior notes and eight tranches of mandatory convertible ​bonds. The company will seek special authorization at the shareholder special meeting to allocate and issue shares converted from mandatory convertible ​bonds.According to the restructuring plan, kaisa will pay 26,884,818 USD in work fees to members of the creditor group and will do so by issuing 2,100,000,000 shares. These shares will be issued after seeking special authorization at the shareholder special meeting. The company will apply to the Stock Exchange for the listing and trading of these shares.The restructuring plan aims to reduce debt pressure, enhance net asset value, and improve financial conditions. After the restructuring is completed, kaisa's liquidity pressure will be alleviated, contributing to a sustainable capital structure. The company reminds shareholders and investors to exercise caution when buying and selling the company’s securities and advises consulting a professional advisor if there are any questions.