On June 28th, Gelonghui reported that Sino-Ocean GP (3377.HK) fell by 20% to HK$0.3 in early trading, and the current decline has narrowed to less than 10%. On the news side, the group stated that it had received a liquidation request filed by Bank of New York Mellon's London branch to the High Court, related to the 3.25% secured notes issued by the company's wholly-owned subsidiary Sino-Ocean Real Estate Baocai IV Co., Ltd. and guaranteed by the company and due in 2026, involving a total principal amount of USD 400 million and accrued interest. The company will vigorously oppose the request. Sino-Ocean stated that the filing of a petition does not mean that the petitioner can successfully liquidate the company. As of the date of this announcement, no liquidation order has been issued by the High Court to liquidate the company. The company does not believe that the request will have a material impact on the company's operations or the formulation of overall debt management arrangements at this stage.
港股异动丨远洋集团一度跌20%，遭提清盘呈请
Sino-Ocean Group fell as much as 20% in the Hong Kong stock market, facing a liquidation proposal.
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