Chinas largest dairy farm operator Huishan Dairy said on Wednesday that a debt restructuring plan has won the support of more than half of its mainland creditors, representing more than two-thirds of the outstanding amount owed by the company.
In a statement to the Hong Kong stock exchange late Wednesday, Huishan Dariy said its chairman and controlling shareholder Yang Kai had notified the company that creditors willing to take part in the restructuring plan had signed an agreement to support it.
The company first proposed the debt restructuring plan in July, after its shares mysteriously plunged 86 per cent in Hong Kong on March 24, which came as a vindication for many of its short sellers, including Muddy Waters, that accus…
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