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Hong Kong's Kaisa up more than 7% on debt restructuring plan

Tuesday, March 3, 2015 - 09:52
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Shares of homebuilder Kaisa Group jumped more than 7 per cent in early trading on Tuesday, after the struggling company announced an onshore debt restructuring plan.

[HONG KONG] Shares of homebuilder Kaisa Group jumped more than 7 per cent in early trading on Tuesday, after the struggling company announced an onshore debt restructuring plan.

The company said late on Monday the plan, involving 48 billion yuan (US$7.6 billion), aimed at restoring its financial and operational stability.

Trade in Kaisa's shares had been halted on Monday. The benchmark Hang Seng Index was up 0.1 per cent.

REUTERS