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China South City Holdings Limited ( (HK:1668) ) has provided an update.
China South City Holdings Limited has announced proposed preliminary terms for a holistic restructuring of its offshore indebtedness, as it seeks to address its inability to repay its debts, stabilise its capital structure and create conditions for the eventual resumption of trading in its shares. Following extended discussions with offshore creditors and other stakeholders, the company has outlined a plan that would amend and restate its outstanding US dollar senior notes with a 40% principal reduction, settle the reduced principal and accrued interest up to an August 2025 cut-off date through share issuance at set conversion prices, and discharge post–cut-off interest, while keeping existing guarantees and keepwell deeds in place. Other offshore liabilities would be extinguished in exchange for new Class B notes representing at least 50% of principal with similar eight-year tenor and 2% coupon (with initial payment-in-kind), plus settlement of remaining principal and pre–cut-off interest via new shares, with post–cut-off interest written off. The restructuring framework is designed to maximise recovery for creditors, preserve going-concern value, and give creditors potential equity upside and cash sweep participation in specific onshore project proceeds; the company warns that failure to implement the plan could force the liquidators into break-up asset disposals, likely disrupting onshore operations and creating timing and recovery uncertainties for offshore creditors.
The most recent analyst rating on (HK:1668) stock is a Sell with a HK$0.10 price target. To see the full list of analyst forecasts on China South City Holdings Limited stock, see the HK:1668 Stock Forecast page.
More about China South City Holdings Limited
China South City Holdings Limited, currently in liquidation, is a Hong Kong-incorporated developer and operator of large-scale integrated logistics and trade centers, with business operations and projects primarily located onshore in mainland China. The group has been under financial stress due to its offshore indebtedness and is working toward a holistic restructuring aimed at restoring a sustainable capital structure and stabilising its operating environment to support a medium- to long-term recovery of its business and potential resumption of share trading in Hong Kong.
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$1.22B
For a thorough assessment of 1668 stock, go to TipRanks’ Stock Analysis page.