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The latest announcement is out from Powerlong Real Estate Holdings Ltd. ( (HK:1238) ).
Powerlong Real Estate Holdings Limited announced that bondholders have approved a restructuring proposal for six onshore corporate bonds and asset-backed securities issued by its subsidiary Shanghai Powerlong Industrial Development (Group) Co. Ltd. The plan revises principal and interest repayment terms and offers bondholders several restructuring options, including repurchase, asset-for-debt, stock conversion, and general creditor claim arrangements, with the company now moving to implement bondholder selections under the agreed framework.
The most recent analyst rating on (HK:1238) stock is a Hold with a HK$0.27 price target. To see the full list of analyst forecasts on Powerlong Real Estate Holdings Ltd. stock, see the HK:1238 Stock Forecast page.
More about Powerlong Real Estate Holdings Ltd.
Powerlong Real Estate Holdings Limited is a Cayman Islands-incorporated property developer listed in Hong Kong, operating through subsidiaries such as Shanghai Powerlong Industrial Development (Group) Co. Ltd. The group is engaged in real estate development and related financing activities in mainland China, including issuing onshore corporate bonds and asset-backed securities to support its operations and growth.
Average Trading Volume: 871,481
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.12B
For a thorough assessment of 1238 stock, go to TipRanks’ Stock Analysis page.