- This is not the first time Evergrande shares have been suspended. Trading was suspended in March last year and trading only resumed on August 28, after a 17-month hiatus.
- Earlier this month, Evergrande delayed a debt restructuring meeting with creditors.
The Hong Kong Stock Exchange announced the suspension of trading in Evergrande shares on Thursday. Shown here are the residential buildings under construction at the Tao Yuan Tian Jing project, developed by China Evergrande Group, in Yangzhou, China.
Bloomberg | Getty Images
The Hong Kong Stock Exchange announced that trading in China Evergrande Group shares was suspended on Thursday.
The chairman of a troubled Chinese property developer has reportedly been placed under surveillance Bloomberg News.
Evergrande shares last closed at 32 Hong Kong cents on Wednesday.
This is not the first time Evergrande shares have been suspended. Trading was suspended in March last year and trading only resumed on August 28, after a 17-month hiatus.
Earlier this month, Evergrande postponed its debt restructuring meeting with creditors, saying: Deposit “The group’s sales have not been what the company expected” since its founding Debt restructuring announcement for March.
As such, Evergrande considers it necessary to re-evaluate the terms of the proposed restructuring to meet the objective situation of the company and the demand of creditors.
The company also revealed that because Investigation of Hengda Real Estate SubsidiaryIt was unable to issue new bonds under its debt restructuring plan.
“Typical beer advocate. Future teen idol. Unapologetic tv practitioner. Music trailblazer.”
More Stories
JPMorgan expects the Fed to cut its benchmark interest rate by 100 basis points this year
NVDA Shares Drop After Earnings Beat Estimates
Shares of AI chip giant Nvidia fall despite record $30 billion in sales