The Hyflux restructuring plan unveiled
For every S$1,000 invested, a holder of Hyflux’s perpetual securities and preference shares will recover S$106.54, or an implied return rate of 10.7%, under the company’s newly announced restructuring proposal. Out of this 10.7%, only 3% is paid in cash and the other in shares of Hyflux. For medium term note holders who are ranked higher on the creditors' list, they will get 24.6% where the cash component is about 13.9%.
Sadly, I am one of those affected as I've invested in the Hyflux 6% cumulative preference shares just 8 months before it was suppose
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