Hi,
moomoo ID:NaN
Log Out
English
Back
Log in to access Online Inquiry

Golden Wheel Tiandi Clarifies Delisting Misunderstanding

MT Newswires ·  {{timeTz}}

12:11 AM EDT, 03/15/2022 (MT Newswires) -- Golden Wheel Tiandi Holdings (HKG:1232) issued an explanation late Monday after its March 10 statement caused some "misunderstandings."

The property developer clarified that the delisting referred to in its previous announcement pertained to its maturing debt securities. The company's listing status will "not be affected, nor will its operations."

GW Tiandi said its 12.95% bonds will be delisted from the Hong Kong bourse following their maturity on March 14.

Once the company's proposed restructuring becomes effective, the three US dollar bonds being restructured, which include the 12.95% bonds, will be canceled and new debt securities will be issued.

The new debts are expected to be listed on the Singapore bourse.

The clarification comes after GW Tiandi last week said it will not redeem its 12.95% bonds and delist them.

The homebuilder said that although the nonpayment will trigger an event of default, it decided not to redeem the bonds given the "strong support" of bondholders for its planned debt restructuring.

GW Tiandi will restructure its obligations through a scheme of arrangement, a statutory process enabling the company to reach a settlement with creditors. The creditors' meeting will be held on March 30.

Price (HKD): $0.13, Change: $0.00, Percent Change: 0.00%

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites https://www.futuau.com and https://www.moomoo.com/au. Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.