HONG KONG: Heavily indebted Chinese property giant Evergrande said Monday (Oct 2) it had applied to the Hong Kong Stock Exchange to resume trading its shares in the city the following morning. Evergrande has become a symbol of China's ballooning property-sector crisis that has seen several high-profile fir
FILE PHOTO: A crane stands at a construction site near the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China, Sep 26, 2021. REUTERS/Aly Song/File PhotoHONG KONG: Heavily indebted Chinese property giant Evergrande said Monday it had applied to the Hong Kong Stock Exchange to resume trading its shares in the city the following morning.
The real estate behemoth announced last Thursday its chief was suspected of"illegal crimes" following the suspension of its shares from trading that day. It is just weeks since the firm resumed trading following a 17-month halt caused by its failure to publish its financial results.The company said last month it was unable to issue new debt because its subsidiary, Hengda Real Estate Group, was being investigated and key meetings planned for debt restructuring were shelved.
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