You are here

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

Tuesday, March 3, 2015 - 09:52

KAISA26.jpg
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

sentifi.com

Market voices on:

Powered by GET.comGetCom