Co. now says in view of Hengda Real Estate Group (a principal subsidiary of the company) being investigated, the group is unable to meet qualifications for issuance of new notes under present circumstances - company statement on HKEX
- The statement reads as follows: "For the issue of the various new notes under the Proposed Restructuring, the Company is required to comply with the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies promulgated by the China Securities Regulatory Commission (CSRC), and the Administrative Measures for the Approval Registration of Mid-to-Long Term Foreign Debt of Enterprises, promulgated by the National Development and Reform Commission (NDRC). In view of (Hengda Real Estate Group Co., Ltd.), a principal subsidiary of the Company, is being investigated, the Group is unable to meet the qualifications for the issuance of new notes under the present circumstances."
- "Holders of the Company’s securities and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company."