KrisEnergy's shares rise on approval for bond restructuring, but some noteholders disappointed
With the "yes" vote, the other parts of the firm's financial restructuring plans also fall into place
Singapore
KRISENERGY'S bond restructuring proposal was passed by bondholders on Friday, to the disappointment of a group of bondholders who had earlier asked for better terms.
The company's shares, which had been placed on a trading halt in the morning when the noteholders' meetings were being held, rose 3 per cent to close at 20 Singapore cents amid heavy trading.
Some 43.5 million KrisEnergy shares changed hands, making the counter one of the most active ones on the Singapore Exchange on Friday.
KrisEnergy said that with the extraordinary resolutions having been passed, the proposals are binding on all noteholders of the 2017 and 2018 bonds, including those who didn't accept the proposals, attend the meeting, or abstained from voting…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Sony deal for Paramount would draw added regulatory scrutiny
Bitcoin 'halving' has taken place: CoinGecko
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try
Honda to invest US$808 million in Brazil by 2030
US: Nasdaq, S&P tumble as Netflix, chip stocks drag