The crisis at Evergrande has triggered fears that its potential collapse could send shockwaves through global markets. Investors have concerns about its more than $300bn (£222bn) of debt. The firm's shares have fallen by almost 80% since the start of this year. The company's total liabilities are equal to around 2% of China's gross domestic product.
torsdag 21. oktober 2021
Evergrande $2.6bn property unit deal collapses
A deal to sell a $2.6bn stake in the world's most indebted property firm to a rival company has fallen through. Chinese property giant Evergrande Group suspended its shares on 4 October ahead of "an announcement containing inside information about a major transaction". It was reported that real estate firm Hopson Development was set to buy a 51% stake in its property services unit. Both companies halted trading for more than two weeks, but will now resume on Thursday after the agreement collapsed.
The crisis at Evergrande has triggered fears that its potential collapse could send shockwaves through global markets. Investors have concerns about its more than $300bn (£222bn) of debt. The firm's shares have fallen by almost 80% since the start of this year. The company's total liabilities are equal to around 2% of China's gross domestic product.
The crisis at Evergrande has triggered fears that its potential collapse could send shockwaves through global markets. Investors have concerns about its more than $300bn (£222bn) of debt. The firm's shares have fallen by almost 80% since the start of this year. The company's total liabilities are equal to around 2% of China's gross domestic product.
