Zhitong Financial APP has been informed that Fusheng International (00627) issued an announcement that on May 11, 2022, the company and potential investors entered into terms and conditions, and the parties have shown their understanding of the proposed restructuring and possible subscription. It is proposed that the proposed restructuring will include possible subscriptions; and the implementation of the creditors' plan. As of 09:20, it was up 200%, with an offer of HK $0.03, with a turnover of 398100.

It is reported that potential investors intend to provide $20 million in cash for the company to allot and issue subscription shares, which account for 90 per cent of the company's issued share capital expanded by the allotment and issuance of subscription shares. As a consideration for waiving the company's full debt to its creditors, potential investors intend to transfer 10 per cent of the allotted and issued subscription shares to the creditor scheme; and to allow the company to use HK $5 million of the proceeds as a cash consideration for the creditor scheme. The balance of the proceeds is intended to be used to settle the restructuring costs and the working capital of the company's Chinese subsidiaries.