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Global Bio-chem Technology Group Co. Ltd. ( (HK:0809) ) just unveiled an update.
Global Bio-chem Technology Group Co. Ltd. has announced a Suppliers Debt Restructuring Arrangement to address overdue payables amounting to RMB461.1 million, involving over 130 independent suppliers. This arrangement includes a debt-to-equity conversion and an equity swap, ultimately allowing suppliers to convert their debt into equity in a subsidiary, Century Dacheng, and then into shares of the company. This strategic move is expected to result in a net gain of no less than HK$190.0 million for the company, improving its financial standing and potentially enhancing shareholder value.
More about Global Bio-chem Technology Group Co. Ltd.
Global Bio-chem Technology Group Co. Ltd. operates in the biotechnology sector, focusing on the production and supply of bio-chemicals. The company is involved in the development of various biochemical products and has a market focus on leveraging innovative technologies to enhance its product offerings.
Average Trading Volume: 2,750,146
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$659.1M
For an in-depth examination of 0809 stock, go to TipRanks’ Stock Analysis page.