Defaulted property developer CIFI Holdings has for the third time in two months unveiled a loss-making asset disposal plan as it looks to fund operations and alleviate liquidity pressure.
Embattled CIFI Holdings put forward a revamped proposal that offers creditors maturity extensions with different haircut levels or partial equitisation.
The loss of 28 million yuan, from the disposal, “is not expected to have immediate material impact on the financial position of the group”, the company said.…