Evergrande Major Transaction
China Evergrande’s property management division clarified it had suspended trading in its shares on Monday pending a possible takeover offer as China’s most indebted developer sought to sell assets to ease its rolling debt crisis, FT reports.
Evergrande's Hong Kong shares suspended pending 'major' transaction
Shares in China property giant Evergrande suspended pending ‘major transaction’ https://t.co/9pPhxdze9m— Guardian news (@guardiannews) October 4, 2021
Two weeks after markets tumbled on Evergrande, only to completely forget that China's property sector is about to be gripped by a major crisis, futures got dinged on Sunday night and Hong Kong stocks slumped the most in two weeks after shares in Evergrande and its property management unit were suspended from trading Monday in Hong Kong, as traders eyed a fresh debt test for the developer.
No reason was given for the halts Monday, with shares of another unit, China Evergrande New Energy Vehicle still trading in Hong Kong, according to ZeroHedge.
ICYMI: Cleaning company boss Guo Hui is a supplier to the ailing Chinese property giant Evergrande and he hasn't been paid. He's had to sell his home and car to make ends meet https://t.co/1toSQCtTZP pic.twitter.com/qwFvQZQ3G3— Reuters (@Reuters) October 3, 2021