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BRIEF-Sainty Marine announces bankruptcy restructuring proposal
September 29, 2016 / 10:27 AM / in a year

BRIEF-Sainty Marine announces bankruptcy restructuring proposal

Sept 29 (Reuters) - Sainty Marine Corp Ltd

* Says it announces bankruptcy restructuring proposal to repay debts via cash, debt to equity

* Says it plans to buy trust and power assets from Jiangsu Guoxin Investment Group Ltd for 21 billion yuan ($3.15 billion) via share issue

* Says it aims to raise up to 4.65 billion yuan in private placement of shares to boost capital in Jiangsu International Trust Corp Ltd, fund power projects

Source text in Chinese: bit.ly/2dbXk0j

Further company coverage: ($1 = 6.6675 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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