Shares of Hope Education International Holdings (01765) opened nearly 15% higher, and as of the time of publication, rose 14.80% to HKD 0.225, with a turnover of HKD 0.8258 million.
According to the Intelligence Finance APP, shares of Hope Education International Holdings (01765) opened nearly 15% higher, and as of the time of publication, rose 14.80% to HKD 0.225, with a turnover of HKD 0.8258 million.
In terms of news, Hope Education International Holdings (01765) announced that, considering the current financial situation of the company and the feedback from the identified creditors, the company has formulated preliminary terms for proposed reorganization to further discuss with its creditors. The announcement stated that for the relevant bonds, the expected unpaid debt will be repaid in the following ways: the initial cash repayment of a substantial portion of the unpaid amount will be provided by the company's fundraising activities, and the remaining debt repayment obligations will be paid in the future through the sale of the company's assets and/or raising other financing resources.
According to reports, Hope Education International Holdings previously announced that the liquidation application was heard in the High Court on June 24 and has been postponed to a later date for substantive hearing. After seeking legal advice, the company is challenging the application and its objections based on good faith include: the applicant does not have the qualification to file the application according to the trust deed of the convertible bonds; the attempted exercise of the redemption option failed to meet the exercise steps and conditions stipulated in the convertible bonds and is invalid.