HONG KONG: Shares of China Evergrande Group fell as much as 87 per cent early on Monday when trading resumed following a 17 month suspension, wiping out almost $2.4 billion of its value, after saying it had 'adequately' fulfilled all guidance issued by the Hong Kong Stock Exchange. Evergrande, the world's
HONG KONG: Shares of China Evergrande Group fell as much as 87 per cent early on Monday when trading resumed following a 17 month suspension, wiping out almost $2.4 billion of its value, after saying it had"adequately" fulfilled all guidance issued by the Hong Kong Stock Exchange.
The stock had been suspended since March 21, 2022. Its Hong Kong-listed units, China Evergrande New Energy Vehicle Group and Evergrande Property Services Group have both resumed trading in the past month after a 16 month halt. The trade resumption also came after the developer on Sunday reported a narrower net loss for the first half of the year due to a rise in revenue.
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