The reorganization plan is about to be successfully completed
Posted: Sun Dec 22, 2024 9:48 am
BBK's restructuring plan has also reached its final stage. At the end of July, the company officially announced the launch of the capital reserve transfer plan, and the total number of transferred shares is expected to reach about 1.848 billion shares. This move is not only a key step in BBK's financial restructuring and strategic adjustment, but also provides strong support for the introduction of strategic investors, debt repayment and restructuring fee payment, while promoting the transformation of short-term debt to long-term debt and significantly reducing the debt level. In the capital reserve transfer plan, about 1.175 billion shares will be used to introduce investors with industrial background and strategic synergy capabilities, including White Rabbit Group, Foreign Trade Trust (jointly with Sinochem Agriculture), Xiangtan Electric Chemical Industry Investment, and Wumart Group and Boya Chunya Consortium.
Among them, Baitu Group will establish a joint venture with country code philippines mobile BBK to conduct "strict product selection" and create its own brand of goods, committed to establishing global supply chain advantages; Foreign Trade Trust (jointly with Sinochem Agriculture) will optimize the fresh food supply chain; Xiangtan Electric Chemical Industry Investment will rely on the strength of local state-owned enterprises to introduce high-quality grain resources; Wumart Group and Boya Chunya will play their advantages in supply chain integration, brand empowerment and digital retail. These investors will bring rich industrial resources and strategic support to BBK, help it accelerate its transformation and upgrading, and jointly build a full-chain ecosystem for retail operations. The remaining transferred shares will be used to repay various debts and fully protect the interests of creditors.
It is worth noting that the lock-up period arrangement of the stocks obtained by industrial investors in this capital reserve transfer also reflects their long-term commitment to BBK. Except for the lock-up period of 24 months for China Foreign Trade Trust (jointly with Sinochem Agriculture), the lock-up period of the other three investors, White Rabbit Group, Xiangtan Electric Chemical Investment, Wumart Group and Boya Chunya, is 36 months. This arrangement further demonstrates the firm attitude and confidence of industrial investors to deeply integrate with BBK and help its transformation and development in the long term.
Among them, Baitu Group will establish a joint venture with country code philippines mobile BBK to conduct "strict product selection" and create its own brand of goods, committed to establishing global supply chain advantages; Foreign Trade Trust (jointly with Sinochem Agriculture) will optimize the fresh food supply chain; Xiangtan Electric Chemical Industry Investment will rely on the strength of local state-owned enterprises to introduce high-quality grain resources; Wumart Group and Boya Chunya will play their advantages in supply chain integration, brand empowerment and digital retail. These investors will bring rich industrial resources and strategic support to BBK, help it accelerate its transformation and upgrading, and jointly build a full-chain ecosystem for retail operations. The remaining transferred shares will be used to repay various debts and fully protect the interests of creditors.
It is worth noting that the lock-up period arrangement of the stocks obtained by industrial investors in this capital reserve transfer also reflects their long-term commitment to BBK. Except for the lock-up period of 24 months for China Foreign Trade Trust (jointly with Sinochem Agriculture), the lock-up period of the other three investors, White Rabbit Group, Xiangtan Electric Chemical Investment, Wumart Group and Boya Chunya, is 36 months. This arrangement further demonstrates the firm attitude and confidence of industrial investors to deeply integrate with BBK and help its transformation and development in the long term.