Sep. 28, 2023 3:11 AM ETChina Evergrande Group (EGRNF)By: Manshi Mamtora, CFA
LewisTsePuiLung/iStock Editorial via Getty Images
- Shares of China Evergrande (OTC:EGRNF) were suspended from trading in the Hong Kong stock market on Thursday after reports of its chairman, Hui Ka Yan, being placed under police watch.
- On Wednesday, Evergrande’s shares ended about 16% lower at 32 Hong Kong cents.
- Trading in its stock had been halted in March last year and didn’t resume until August 28, a 17-month gap.
- Evergrande (OTC:EGRNF), which has over $300B in debt, has been trying to generate money by selling assets and shares to pay its suppliers and creditors.
Comments
Have a tip? Submit confidentially to our News team. Found a factual error? Report here.