tiprankstipranks
Company Announcements

Momentum Financial Holdings Proposes Debt Restructuring with Convertible Bonds

Story Highlights
  • Momentum Financial Holdings plans to issue convertible bonds totaling HK$91,534,164.
  • The restructuring may increase creditors’ voting rights, requiring a Whitewash Waiver.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Momentum Financial Holdings Proposes Debt Restructuring with Convertible Bonds

The latest update is out from Momentum Financial Holdings Limited ( (HK:1152) ).

Momentum Financial Holdings Limited has announced a proposed debt restructuring plan involving the issuance of convertible bonds to capitalize outstanding debt owed to creditors. This arrangement, under a specific mandate, seeks to issue HK$91,534,164 in convertible bonds. The restructuring could significantly increase the creditors’ voting rights within the company, potentially obligating Rosy Benefit and the Creditors Concert Group to make a mandatory cash offer for all shares not owned by them unless a Whitewash Waiver is granted. The successful execution of this plan depends on the waiver’s approval by independent shareholders and regulatory bodies.

More about Momentum Financial Holdings Limited

YTD Price Performance: -6.25%

Average Trading Volume: 6,482,571

Technical Sentiment Consensus Rating: Buy

Current Market Cap: HK$73.65M

For detailed information about 1152 stock, go to TipRanks’ Stock Analysis page.

Questions or Comments about the article? Write to editor@tipranks.com

Questions or Comments about the article? Write to editor@tipranks.com
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App