Brief: Hanhua Financial Says Court Issued Ruling Approving Substantial Consolidation & Restructuring Plan Of Loncin Group
23/11/2022 12:19
Nov 23 (Reuters) - Hanhua Financial Holding Co Ltd
3903.HK :
* COURT ISSUED RULING APPROVING SUBSTANTIAL CONSOLIDATION &
RESTRUCTURING PLAN OF 13 COMPANIES INCLUDING LONCIN GROUP
* AS PER RESTRUCTURING PLAN, 432.2 MILLION DOMESTIC SHARES
OF CO
HELD BY LONCIN WILL BE OFFSET TO IN PROPORTION TO CORRESPONDING
CREDITORS
* IMPLEMENTATION PERIOD OF RESTRUCTURING PLAN SHALL BE 12
MONTHS
FROM DATE OF APPROVAL BY CHONGQING INTERMEDIATE COURT
Further company coverage: 3903.HK
((Reuters.Briefs@thomsonreuters.com;))
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