Shoukai shares seeks approval for CNY 35bn debt financing

Beijing Capital Development (SSE:600376) is seeking shareholder approval to authorize the board to issue up to CNY 35 billion in new debt financing instruments. The decision was reached at the company's 40th meeting of the 10th Board of Directors. The move aims to improve the company's ability to refinance existing debt and secure funding for specific projects. The financing may include medium-term notes (MTN), private placement notes (PPN), asset-backed notes (ABN), commercial paper and other instruments. The authorization, if approved, will be valid from the date of the 2024 Annual General Meeting to the date of the 2025 Annual General Meeting. The funds will be used to meet operational needs, repay debts, supplement working capital, and invest in projects.