Ipos 4 mobile crack5/25/2023 It also offered to repurchase some of the bond at a 17% discount to face value, according to a Singapore stock exchange filing. If the proposals aren’t backed, the builder said it might not be able to fully repay the note. Shimao Group’s mainland unit said late Tuesday that its business activities are normal and nothing has happened that would affect its ability to repay yuan bonds. Shimao Group has blamed the selloff in its bonds and shares this week on unspecified “rumors.” The parent company also defended a recent transaction between two units that had prompted the Shanghai stock exchange to ask whether the deal would hurt smaller shareholders. The Monday announcement that Shimao’s services unit had agreed to buy another unit of Shimao Group for 1.65 billion yuan ($259 million) was taken as a sign by some analysts that the developer is shifting money from stronger to weaker parts of the business. The acquisition “not only implies tight liquidity conditions for Shimao, but is also a corporate governance red flag,” JPMorgan Chase & Co.
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