China South City Faces Winding-Up Petition; Shares Slide 11%

MT Newswires Live

2025/01/28

China South City Holdings (HKG:1668) said a winding-up petition in Hong Kong's High Court was filed by Citicorp International relating to an alleged non-payment of about $306.2 million, according to Tuesday's filing with the Hong Kong bourse.

The issue pertains to $288.8 million, 9.0% senior notes due April 2024. The opening hearing for the petition will be held on April 2. The company intends to exercise all legal options in the matter.

The company's share price was down by about 11% in recent trading.

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