On November 29, 2024, kaisa group announced that it will hold a special general meeting of shareholders on December 18, 2024 to discuss potential trades related to restructuring, including issuing mandatory convertible bonds and issuing shares to members of the creditor group. The restructuring involves debts within the total outstanding principal amount of approximately 12.27 billion US dollars, aimed at releasing and discharging relevant creditors of obligors and debts within the relevant scope. The restructuring plan includes the issuance of six new dollar-denominated senior notes and eight mandatory convertible bonds, which will be proportionally distributed to the planned creditors. The effectiveness of the restructuring is subject to multiple conditions, including shareholder approval, obtaining approvals from relevant government and regulatory institutions, etc. If the restructuring...Show More

On November 29, 2024, kaisa group announced that it will hold a special general meeting of shareholders on December 18, 2024 to discuss potential trades related to restructuring, including issuing mandatory convertible bonds and issuing shares to members of the creditor group. The restructuring involves debts within the total outstanding principal amount of approximately 12.27 billion US dollars, aimed at releasing and discharging relevant creditors of obligors and debts within the relevant scope. The restructuring plan includes the issuance of six new dollar-denominated senior notes and eight mandatory convertible bonds, which will be proportionally distributed to the planned creditors. The effectiveness of the restructuring is subject to multiple conditions, including shareholder approval, obtaining approvals from relevant government and regulatory institutions, etc. If the restructuring is successful, it will significantly reduce the capital deficit of this group, enhance net assets value, and improve financial condition. In addition, kaisa group will issue 2,100,000,000 shares to members of the creditor group to pay part of the working fees of the creditor group. The issuance price of the shares is HK$0.1 per share, with a certain discount compared to the current market price. The board of directors believes that the terms of the issuance are fair and reasonable, and are in the overall interest of the company and shareholders.