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HKG:1129

3 stories mentioning HKG:1129

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Asia

Hong Kong Court Adjourns Winding-up Hearing Against China Water Industry to June 8

China Water Industry (HKG:1129) said a Hong Kong court adjourned the hearing of a winding-up petition against the company to June 8, according to a Wednesday bourse filing.Shares of the water supply company were down over 2% in late morning trade on Thursday.The petition relates to a May 2022 loan agreement involving New China Water (Nanjing) Renewable Resources Investment, an indirect non-wholly owned subsidiary of the company, and a guarantee provided by China Water Industry.

HKG:1129
Asia

China Water Creditor to Appear in Winding-up Petition Hearing

China Water Industry Group (HKG:1129) said a creditor filed their intention to appear before the Hong Kong High Court in support of a winding-up petition against the water supply company, according to a Hong Kong bourse filing Thursday.The company's shares fell over 1% in morning trade Friday.According to the filing, Shao Bin plans to appear on the hearing of the winding-up petition on May 27. The creditor is owed HK$2 million, being the principal amount of a bond issued by China Water in November 2018.

HKG:1129
Asia

China Water Industry Enters Rescheduling Deed With IFC

China Water Industry Group (HKG:1129) entered into a rescheduling deed with the International Finance Corporation, according to a Hong Kong bourse filing Friday.Shares of the water supply company were down over 2% in Monday morning trade.The rescheduling of payments to IFC was a condition for the company's proposed debt restructuring plan, which involves a bridge loan of HK$131.3 million and the issuance of convertible bonds.The bridge loan will be used to partially settle amounts owed to the IFC, while the first tranche of convertible bonds to be issued will help settle the bridging loan itself.Subsequent issues of the convertible bonds will be used to repay the remaining amounts owed to the IFC by March 31, 2027.The IFC previously sought about 216.6 million yuan linked to a subsidiary of the company.

HKG:1129