Hilong Holding Ltd. (HK:1623) has released an update.
Hilong Holding Ltd. has announced a default on its notes due to the inability to settle the outstanding principal amount of $314.5 million by the maturity date. The company is actively negotiating with an Ad Hoc Group to restructure the offshore debt but has not yet reached an agreement. Trading of Hilong’s shares remains suspended, and the company advises caution to investors.
For further insights into HK:1623 stock, check out TipRanks’ Stock Analysis page.