Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Road King Infrastructure ( (HK:1098) ) has provided an update.
Road King Infrastructure has provided an update on its offshore debt restructuring efforts, stating that its commercial operations remain normal despite a severely challenging real estate environment. Working with financial advisor Alvarez & Marsal and legal advisor Linklaters, the company has been engaging an ad hoc group of holders of its US dollar-denominated senior notes and perpetual securities to formulate a consensual restructuring of its offshore indebtedness. The company has put forward a detailed proposal, which aims to right size its balance sheet and restore a sustainable capital structure through two schemes of arrangement, including a New Select Scheme under which eligible noteholders would receive notes issued by a creditor SPV that will hold a majority stake in Road King Expressway International Holdings. While the ad hoc group has not yet accepted the proposal and negotiations continue over key economic terms, management believes a successful restructuring will allow the group to continue as a going concern and support long-term business stability for stakeholders.
The most recent analyst rating on (HK:1098) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on Road King Infrastructure stock, see the HK:1098 Stock Forecast page.
More about Road King Infrastructure
Road King Infrastructure Limited is a Bermuda-incorporated company listed in Hong Kong, operating primarily in the infrastructure and real estate sectors through its property development and related businesses in mainland China and beyond. The group focuses on developing, completing and delivering property projects while maintaining both onshore and offshore financing arrangements, with an emphasis on preserving value for stakeholders despite challenging real estate market conditions.
YTD Price Performance: 3.03%
Average Trading Volume: 114,962
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$509.5M
For detailed information about 1098 stock, go to TipRanks’ Stock Analysis page.