(Yicai Global) Jan. 27 -- China Evergrande Group’s stock price fell after the the world's most-indebted property developer told investors and creditors that it will publish a debt restructuring plan within the next six months. It is the first time the firm has put forward a clear timetable.

The shares [HKG: 3333] finished 3.4 percent lower today at HKD1.71 (22 US cents) each, after earlier sinking as much as 9.6 percent. The stock has ticked up 3.1 percent since the start of the year, having plunged nearly 90 percent last year.

Evergrande held a conference call with creditors yesterday in which an executive also reiterated that any plan would seek to protect the rights of stakeholders, the Shenzhen-based homebuilder said in a bourse filing late the same day. It did not reveal any other details of the call.

After declaring a bond default for the first time on Dec. 3, Evergrande said last month that it planned to restructure its debt. The company has liabilities in excess of USD300 billion.

On Jan. 21, Evergrande announced that it had hired three more financial and legal advisers to help sort out its financial situation after a key group of overseas bondholders threatened to take legal action against the firm.

In a stock exchange filing on Jan. 23, Evergrande also said it will appoint two new board members, including the chairman of a unit of China Cinda Asset Management, one of the country’s four largest state asset managers. Its shares rose 3.9 percent that day.

Editor: Futura Costaglione