Vanke to Exit Non-Core Business, Divest Assets for Liquidity [BNN Bloomberg (Canada)]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: BNN Bloomberg
The company will “trim down” and adjust its model for raising money, Chairman Yu Liang said in the meeting. It will also exit all businesses except for the three main operations, which focus on property development, real estate management services and rentals. “The company has made a comprehensive weight loss plan to coordinate debt reduction and high quality growth,” Yu said. “We will withdraw, clean up or transfer financial investment in other businesses outside the three main operations.” The chairman also pledged in the meeting to reduce interest-bearing debt by more than 100 billion yuan ($13.8 billion) in the next two years. The state-backed developer has become the latest flashpoint in the nation's property crisis, underscoring the severity of the sector's challenges. Once China's largest developer, Vanke now joins a list of large companies including Country Garden Holdings Co. in a fight for survival. Vanke said in March that it aimed to reduce interest-bearing debt b
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SPGI
Earnings
- 4/26/24 - Miss
SPGI
Sec Filings
- 5/17/24 - Form 4
- 5/15/24 - Form 144
- 5/6/24 - Form 8-K
- SPGI's page on the SEC website