XJ INTL HLDGS (01765.HK) Prepares Preliminary Terms of Proposed Restructuring; Shr Price Once Soars 25%

　　XJ INTL HLDGS (01765.HK) +0.045 (+22.959%) Short selling $197.37K; Ratio 13.234% announced that, with respect to the restructuring of its offshore bonds, the company has considered its current financial situation and feedback from the identified creditors, and has prepared preliminary terms for the proposed restructuring for further discussions with its creditors.

　　In respect of the relevant bonds, it is anticipated that the outstanding indebtedness shall be settled by an initial cash repayment of a considerable portion of the outstanding amount, to be financed by a fundraising exercise of the company, and a repayment obligation, representing the remaining balance of the indebtedness to be settled through the disposal of certain assets of the company and/or other refinancing in the future.

　　XJ INTL wishes to emphasize its commitment to repay its creditors in full with no intended haircut on the outstanding amount of the relevant bonds. For the avoidance of doubt, as of the date of this announcement, the company is still in negotiations with creditors on the definitive terms of the proposed restructuring. The company reiterated its determination to implement a proposed restructuring that aims to ensure the long-term development of the group, safeguard the interests of all stakeholders, and provide fair treatment to all its creditors.

　　XJ INTL opened hiking 14.8% at $0.225 today (18 July), and once soared 25% to a high of $0.245. It trades now at $0.232, surging 18.37%, with a volume of 87.568 million shares and a turnover of $20.3532 million.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-17 16:25.)