Phat Dat Real Estate Development Corporation (Ticker: PDR) has announced the completion of the issuance of 34,095,000 shares for debt conversion. These shares were issued to a credit institution to repay a loan that PDR has. The debt-to-equity swap helps the company alleviate financial burdens and improve its debt-to-equity ratio. After the issuance, the total number of PDR’s outstanding shares has significantly increased, which may impact the stock price in the market.
The company stated that this is part of its financial strategy to optimize capital and enhance debt repayment capabilities. The shares are expected to officially start trading next month. This also reflects PDR’s efforts in restructuring its capital source to ensure more stable business operations in the future.
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