Summary by Moomoo AI
KEEKI FINANCIAL INTERNATIONAL (HOLDINGS) LIMITED (“KEEKI FINANCIAL INTERNATIONAL”) FILED A LIQUIDATION PETITION WITH THE CAYMAN ISLANDS HIGH COURT ON 23 FEBRUARY 2024 FOR RESTRUCTURING. The move is due to the company's inability to raise funds through share subscriptions and as a result faces a liquidity shortage, leading to a worsening financial situation. The trading of the Company's shares has been suspended since February 2, 2024 and will continue to be suspended until further notice. KEI Financial International will continuously update shareholders and potential investors regarding the liquidation application. The Board of Directors (with the exception of Mr. Chan) considers financial restructuring necessary, especially after KHIL, the controlling shareholder, initiated legal proceedings to challenge the effectiveness of the share subscription. In addition, the Company has received notice of termination of the franchise agreement related to its membership and events business, further adding to the financial pressure on the Company.