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Property stocks sink, Oaktree seizes assets: Evergrande update

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Property stocks sink, Oaktree seizes assets: Evergrande update

Shares of Chinese developers tumbled on Thursday after the two companies announced plans to issue new shares. According to the British “Financial Times” report, the American investment company Oaktree Capital is in the process of expropriating a piece of land used as collateral by China’s Evergrande Group.

The builder has told creditors it aims to release an initial restructuring plan within the next six months. Evergrande said in a statement after a conference call with stakeholders on Wednesday that it “will continue to listen carefully to the opinions and suggestions of creditors.” The company plans to treat all classes of bondholders, such as domestic and foreign investors, equally, with the help of its financial advisers, a company executive said on a conference call, according to people familiar with the matter.

Other stressed real estate companies are ramping up fundraising efforts ahead of the Lunar New Year holiday. China Aoyuan Group Ltd. — which changed auditors ahead of key industry earnings season — completes real estate sale in Canada, Times China Holdings Ltd. issues new shares in Hong Kong, and Logan Group Ltd. sells equity-linked securities for existing Debt refinancing.

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Evergrande’s shares fell as much as 9.6% at one point, while Times China and Logan’s one-day losses were 32% and 17%, respectively. The Bloomberg Intelligence real estate index fell 4.6%.

Major developments:

Evergrande plans to propose restructuring plan within six months
At the beginning of the new year, housing market crackdown drags down China’s economy
Oaktree Capital seizes Evergrande real estate assets: FT
Property crisis means Chinese cities sell land to themselves
Shimao’s $74M placement limits hurdles to cash-crunch fix
Logan raises funds (8:26am HKT)

Logan sold HK$1.95 billion ($250 million) in equity-linked securities and said it would use the net proceeds to refinance its existing debt. Unless redeemed earlier, the securities are paid semi-annually and expire on August 4, 2026.

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Times China Share Placement (8:17am Hong Kong time)

Times China sold 117.7 million new shares at HK$3.40 each, according to a statement from the Hong Kong Stock Exchange. The price represents a 17.1% discount to the stock’s closing price on Wednesday.

Financial Times says Oaktree to acquire Evergrande assets (2:44am Hong Kong time)

Complete News Source : Hindustan Times

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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