In a regulatory statement to the Hong Kong Stock Exchange, Evergrande Group said that its shares had been suspended from trading "pending the release by the Company of an announcement containing inside information about a major transaction." Meanwhile, rival Hong Kong-listed property firm Hopson Development is set to buy a 51% stake in Evergrande Real Estate for around $5bn, according to Chinese news outlet Cailian Press.
mandag 4. oktober 2021
Evergrande: Company set to update market on 'major transaction'
Chinese property giant Evergrande's shares have been suspended as investors await a statement about its future. The crisis at the world's most indebted property developer has triggered fears that its potential collapse could send shockwaves through global markets. The firm said the trade halt came ahead of "an announcement containing inside information about a major transaction". It comes amid reports that a rival real estate firm is reportedly set to buy a majority stake in an Evergrande unit.
In a regulatory statement to the Hong Kong Stock Exchange, Evergrande Group said that its shares had been suspended from trading "pending the release by the Company of an announcement containing inside information about a major transaction." Meanwhile, rival Hong Kong-listed property firm Hopson Development is set to buy a 51% stake in Evergrande Real Estate for around $5bn, according to Chinese news outlet Cailian Press.
In a regulatory statement to the Hong Kong Stock Exchange, Evergrande Group said that its shares had been suspended from trading "pending the release by the Company of an announcement containing inside information about a major transaction." Meanwhile, rival Hong Kong-listed property firm Hopson Development is set to buy a 51% stake in Evergrande Real Estate for around $5bn, according to Chinese news outlet Cailian Press.
