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“Er Shang Debt-to-equity Swap” Project of Beijing Guotong Asset Management Co., Ltd Successfully Exited, with Premium Rate of 113.94%
2017-01-05

On January 5, 2017, Beijing Guotong Asset Management Co., Ltd successfully transferred its stake of Beijing Er Shang Food Co., Ltd in China Beijing Equity Exchange, which was transferred at trading price of RMB45.345 million and exceeded debt amount by 44.41%. This trading price marked premium rate of 113.94% over listing price. Beijing Guotong Asset Management Co., Ltd achieved excess claim of the historical debt.

Such stake was formed by Beijing Guotong Asset Management Co., Ltd when it launched “debt-to-equity swap” for written-off financial distressed debt. The successful exit of “Er Shang Debt-to-equity Swap” Project offers another successful case of Beijing Guotong Asset Management Co., Ltd which disposes of non-performing assets by means of “debt to “debt-to-equity swap”. This is not only an important manifestation of bringing Beijing-based important asset management platform into full play and exercising local AMC function, but also gathers experience for subsequent campaign of leverage reduction and efficiency increase in state-owned enterprises under the administration of Beijing Municipal Government.

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