Country Garden Resumes Trading After 9-Month Suspension, Expects Debt Deal
Country Garden Holdings Co. (CTRYF) resumed trading in Hong Kong on Tuesday following a nine-month suspension. The Chinese property giant's shares surged after it announced plans to finalize a debt restructuring agreement with creditors.
Key Points:
* Shares rose 11% in morning trading.
* Suspension lifted after Country Garden fulfilled resumption guidance.
* Company erwartet eine Einigung mit Gläubigern bis Ende Februar.
* Court hearing on liquidation petition postponed.
* Published delayed financial results showing a record loss in 2023.
* Loss attributed to impairment provisions on properties.
* Forecasts narrower loss for 2024 but remains unprofitable.