Fanya warns investors to accept restructuring offer or watch it liquidate and get nothing

The Fanya minor metals exchange has told investors that they should accept its share restructuring because if it is forced into liquidation they will get nothing.

“The best solution is that the exchange finishes the final [stages of] rectification to meet local government requirements, promotes a strategic share restructuring of the bourse, carries out solutions including [arranging] financial support and converting debt to shares and so on, to maximize [the protection and benefits to those with an interest],” Fanya said in a statement on Thursday September 24.
“The worst plan [would be] to apply bankruptcy liquidation immediately; it’s a quick release for the exchange and its investors,” Fanya said, but added that its investors would not be the first ones to get paid, and might not even be paid as the bourse has few assets and most of its previous profits had already been paid to investors.

The investors and China’s rare...

Published

September 25, 2015

13:52 GMT

MB offices