Shares in ailing Chinese property developer Kaisa Group surged on Thursday (November 25). They were up as much as 18% in afternoon trade. That after the firm said it planned to extend the maturity on one key bond, subject to agreement by holders. The move would help it avert a messy default. The developer is closely watched as it has more offshore debt than any such firm except bigger and equally troubled Evergrande. Kaisa has already missed bond coupon payments totalling more than $88 million, though it does still have a grace period.