The latest update is out from Powerlong Real Estate Holdings Ltd. ( (HK:1238) ).
Powerlong Real Estate Holdings Ltd. announced that a liquidation application has been filed against its wholly-owned subsidiary, Powerlong BVI, due to non-payment of senior notes. The company is actively negotiating with the applicants to resolve the issue and believes the application does not reflect the interests of other stakeholders. Powerlong is committed to finding a comprehensive solution to its liquidity issues and is working with financial and legal advisors to protect its operations and stakeholder interests.
More about Powerlong Real Estate Holdings Ltd.
Powerlong Real Estate Holdings Ltd. is a company incorporated in the Cayman Islands, operating in the real estate industry. It is involved in the development and management of commercial and residential properties, focusing on the Chinese market.
YTD Price Performance: 5.62%
Average Trading Volume: 2,483,866
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: HK$1.95B
For a thorough assessment of 1238 stock, go to TipRanks’ Stock Analysis page.