Powerlong Moves Forward with Debt Solution Plan

Powerlong Real Estate Holdings Ltd. (HK:1238) has released an update.

Powerlong Real Estate Holdings Ltd. has announced a step forward in its ‘Holistic Solution’ strategy, with a court permitting the convening of creditor meetings to approve a proposed scheme of arrangement. The company plans to issue Mandatory Convertible Bonds worth up to US$558 million, which, if fully converted, would result in the issue of over 1.3 billion new shares. These financial moves are subject to shareholder approval and stock exchange listing permissions, aiming to manage the company’s in-scope debt.

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