Rendong Holdings to Hold Fifth Auction for Non-Core Assets

MT Newswires

Rendong Holdings will conduct a fifth attempt to auction three non-core equity holdings after four failed attempts since May.

The assets include minority stakes of 3.0% in Beijing Haidian Tech Finance, 12.2% in Shanghai Weijie Info Tech and 25% in Tianjin Minsheng Leasing, according to a Wednesday filing with the Shenzhen bourse.

The auction is scheduled from July 23 to July 24 on JD.com's platform.

Shares of the financial services provider declined over 1% in recent trade.

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Rendong Relaunches Auction of Stakes After Initial Failure

MT Newswires

002647

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Rendong Holdings will re-auction three non-core equity stakes from June 11 to June 12, after an initial auction in May failed.

The assets include a 3.0% stake in Beijing Haidian Sci-Tech Finance, 12.2% stake in Shanghai Weijie Information Technology and 25% stake in Tianjin Minsheng International Leasing, according to a Wednesday filing with the Shenzhen bourse.

Starting prices for the stakes range from 10.1 million yuan to 52.8 million yuan.

Shares of the financial services provider closed 1% lower Wednesday.

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Court Approves Rendong's Reorganization Plan

MT Newswires

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Rendong Receives Court Nod to Manage Own Affairs During Restructuring

MT Newswires

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Rendong Holdings has been granted permission by the Guangzhou Intermediate People's Court to manage its property and business affairs under the supervision of a court-appointed administrator during its reorganization period, according to a Thursday filing with the Shenzhen Stock Exchange.

The decision follows pre-restructuring preparations, including debt audits and the identification of investors. The company's core business operations are stable, with bankruptcy risks persisting if the restructuring fails.

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Rendong Holdings to Hold Fifth Auction for Non-Core Assets

Rendong Relaunches Auction of Stakes After Initial Failure

Court Approves Rendong's Reorganization Plan

Rendong Receives Court Nod to Manage Own Affairs During Restructuring

Risk Disclosure