HK Stock Market Move | LOGAN GROUP (03380) surges more than 22% intraday, with the restructuring proposal for 21 bonds of Shenzhen Longfor Holdings already approved.

LOGAN GROUP (03380) surged more than 22% during trading, as of the time of writing, rising 18.52% to 1.6 Hong Kong dollars, with a trading volume of 42.9552 million Hong Kong dollars. On the news front, on February 3, Shenzhen Longfor Holdings issued an announcement regarding significant matters related to the company's bond issuance. The announcement stated that in order to promote the subsequent restructuring arrangements for the public market debts of Shenzhen Longfor Holdings Limited (hereinafter referred to as the "Company" or "Longfor Holdings"), 21 listed market bonds/asset-backed securities (hereinafter collectively or individually referred to as the "subject bonds") have respectively held bondholder meetings or controlling asset-backed securities holder meetings by 2025, to deliberate and approve the "Proposal for the Overall Restructuring of this Issue of Bonds" or the "Proposal for the Overall Restructuring of this Issue of Asset-Backed Securities". Furthermore, Longfor Holdings intends to adjust the other options or asset disposal arrangements for part of the potential debt assets specified in the "Restructuring Proposal". Prior to the implementation of adjustments to the potential debt assets mentioned in this announcement, the total assessed value of the potential debt assets involved in the other options or asset disposal arrangements for each restructuring option remains similar.