Wuzhou International Holdings Ltd. suspended the trading in its shares on The Stock Exchange of Hong Kong Ltd., effective 9:30 a.m., Sept. 3., pending the release of its financial results for the six months to June 30.
The Chinese developer said it could not give a definite date for the release and that it needs more time to ascertain some financial data, including the updated status and value of certain of its assets and liabilities. Trading in the company's US$300.0 million of 13.75% senior notes due 2018 remains is also suspended until further notice.
The company is facing financing difficulties and is talking to its creditors to restructure its debt. Wuzhou International has earlier said its business operations and continuity would not be deeply affected, but future revenues might decrease due to planned sale of assets.