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KAISA GROUP (1638.HK)

0.174

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At close: 4:08:33 PM GMT+8

China's Kaisa to hold shareholder meeting in December to discuss restructuring

At the meeting, Kaisa would discuss with its creditors matters relating to its offering worth $5 billion of U.S. dollar-denominated senior notes and $4.8 billion worth of mandatory convertible bonds. It would also go over the work fee share issue with Citicorp International, a bond trustee of an ad hoc group of bondholders (AHG). The work fee share issue is around $26.9 million.

Reuters 5 months ago

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China's Kaisa forecasts bigger H1 net loss on slower property deliveries

China's property sector, a key driver of the economy, has been in turmoil since 2021, with housing sales plummeting 6.5% in 2023 from the previous year and 35.9% from its 2021 peak, following a regulatory crackdown on high leverage among developers that sparked a liquidity crisis. The slowdown in the property market has led to decreased real-estate project deliveries, which in turn has resulted in lower recognised revenues for developers like Kaisa. At the same time, many developers are struggling with unsold inventory, delayed projects, and declining property values, implying a need to recognise higher impairment losses on property projects.

Reuters 8 months ago

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Kaisa says it has creditors' support as it unveils debt workout plan to avoid liquidation

Kaisa Group has unveiled its long-awaited debt workout plan to avoid a showdown during next month's liquidation court hearing in Hong Kong, the first time the Shenzhen-based developer is restructuring its finances since defaulting on US$12 billion of offshore bonds in 2021. The developer offered its creditors several payment options, including new notes denominated in US dollars, and mandatory convertible bonds (MCB) that can be exchanged into new Kaisa shares, according to a filing to the Hong

South China Morning Post 8 months ago

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Chinese property developer Kaisa, bondholders agree to restructure offshore debt

HONG KONG (Reuters) -Chinese property company Kaisa Group on Tuesday announced an offshore debt restructuring agreement with a key group of bondholders, swapping existing debt into new notes and shares in the company. The restructuring plan also covers other debts including loans and yuan-denominated asset-backed securities. Kaisa is the second-largest offshore debt issuer among Chinese developers after China Evergrande Group and in 2015 became the first among its peers to default on dollar bonds.

Reuters 8 months ago

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China's Kaisa Group liquidation hearing adjourned by Hong Kong court

HONG KONG (Reuters) -A Hong Kong court on Monday adjourned a hearing into a petition seeking liquidation of Kaisa Group until Sept. 9, giving the embattled Chinese developer more time to reach agreement with some bondholders on its debt restructuring plan. Kaisa senior adviser LL Tam said outside the court the company was finalising documents for a restructuring agreement with bondholders that it hoped would be settled in less than a month. Citicorp International, the trustee of a major group of bondholders, has been acting as petitioner since March after a former petitioner withdrew.

Reuters 8 months ago

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China's Kaisa gets seven-week stay on liquidation petition; adjournment likely its last

A Hong Kong court gave Chinese property developer Kaisa Group a seven-week respite on Monday to finalise a debt restructuring plan, adjourning a hearing on a liquidation petition for what it said could be the last time. The High Court adjourned the hearing to Aug. 12 after the petitioner representing a key group of bondholders agreed to Kaisa's request for more time. At a hearing in April, Kaisa told the court it would finalise terms by the end of May.

Reuters 10 months ago

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Exclusive-Kaisa chairman returns to Shenzhen to meet regulators, sources say

HONG KONG (Reuters) -The chairman of defaulted Chinese developer Kaisa Group returned to mainland China from Hong Kong for the first time in almost a decade to get regulatory approval for an offshore debt restructuring, two sources familiar with the matter said. Chairman Kwok Ying Shing travelled to the southern city of Shenzhen, where Kaisa is based, for talks with officials about two months ago and is still there, one of the industry sources close to the company said. "It is a critical step for the restructuring," the person said, referring to Kwok meeting regulators as the company faces a liquidation petition in a Hong Kong court on Monday.

Reuters 10 months ago

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Chinese property developer Kaisa's liquidation hearing adjourned

HONG KONG (Reuters) -A Hong Kong court on Monday adjourned a hearing on a petition seeking the liquidation of Kaisa Group until June 24, giving the embattled Chinese developer some respite as it works on its debt restructuring plan. Citicorp International, the trustee of a major group of bondholders, has been acting as petitioner since March after a former petitioner withdrew. A spokesperson for Kaisa said they were discussing specific terms of the restructuring plan with the bondholder group.

Reuters 11 months ago

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Performance Overview

Return	1638.HK	HANG SENG INDEX (^HSI)
YTD	-12.12%	+16.92%
1-Year	+11.54%	+22.96%
3-Year	-79.29%	+17.86%

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KAISA GROUP (1638.HK)

China's Kaisa to hold shareholder meeting in December to discuss restructuring

China's Kaisa forecasts bigger H1 net loss on slower property deliveries

Kaisa says it has creditors' support as it unveils debt workout plan to avoid liquidation

Chinese property developer Kaisa, bondholders agree to restructure offshore debt

China's Kaisa Group liquidation hearing adjourned by Hong Kong court

China's Kaisa gets seven-week stay on liquidation petition; adjournment likely its last

Exclusive-Kaisa chairman returns to Shenzhen to meet regulators, sources say

Chinese property developer Kaisa's liquidation hearing adjourned

Performance Overview