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Hong Kong's Shenzhen Expressway board gives go-ahead for up to RMB 3 billion debentures issue
By Jennifer Chiou
New York, March 24 - Shenzhen Expressway Co. Ltd. announced that its board of directors approved an up to RMB 3 billion issue of debentures at a Friday meeting.
The company will now seek authorization from shareholders at a May 14 meeting. It will also need approval from regulatory authorities.
Proceeds will be used for working capital, reducing finance costs and improving the company's debt structure.
Shenzhen Expressway is a Hong Kong-based construction company.
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