Evergrande and its various other listed arms suspended trading in Hong Kong, marking yet more challenges to the world’s most indebted property developer.
China Evergrande Group’s shares suspended trading today, according to a Hong Kong exchange filing.
Shares from its other Hong Kong-listed firms were also suspended from trading including property service unit Evergrande Property Services Group and electric vehicle unit China Evergrande New Energy Vehicle Group, according to filings.
The filings provided no additional details.
$300 Billion Debt
The world’s most indebted property developer continues to face pressure from its more than $300 billion of liabilities alongside commitments to finish building more than one million homes.
Evergrande has avoided technical bond defaults onshore thus far – its flagship unit Hengda Real Estate secured approval from domestic debt holders to delay a coupon payment due last September to September 2022, according to a Shenzhen exchange filing – but previously missed payments on some offshore bonds.
