On Wednesday, Evergrande said the $2.6bn (£1.88bn) deal had fallen through as they were unable to agree on the deals terms. 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 of debt. The company's total liabilities are equal to around 2% of China's gross domestic product. Hopson Development is another Chinese property firm that is owed money by Evergrande and some analysts thought this potential deal was a way for Evergrande to write off its debt.
torsdag 21. oktober 2021
Evergrande shares fall 14% as trading resumes in Hong Kong
Evergrande shares fell as much as 14% on Thursday in Hong Kong as they resumed trading after a 17-day halt. The hugely indebted Chinese property giant had stopped its shares from trading ahead of an announcement. Reports said real estate firm Hopson Development was set to buy a 51% stake in its property services unit.
On Wednesday, Evergrande said the $2.6bn (£1.88bn) deal had fallen through as they were unable to agree on the deals terms. 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 of debt. The company's total liabilities are equal to around 2% of China's gross domestic product. Hopson Development is another Chinese property firm that is owed money by Evergrande and some analysts thought this potential deal was a way for Evergrande to write off its debt.
On Wednesday, Evergrande said the $2.6bn (£1.88bn) deal had fallen through as they were unable to agree on the deals terms. 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 of debt. The company's total liabilities are equal to around 2% of China's gross domestic product. Hopson Development is another Chinese property firm that is owed money by Evergrande and some analysts thought this potential deal was a way for Evergrande to write off its debt.
