Evergrande collapses on the Hong Kong stock exchange (-25.45% to 0.41 Hk dollars) after declaring in a file on the stock exchange of the former British colony that, in view of the investigation by Hengda Real Estate Group, its main domestic subsidiary, “was unable to meet the requirements for issuing new bonds.” Evergrande’s unit had been investigated by China’s securities regulator for suspected information disclosure violations. As of the end of July, Hengda Real Estate’s unpaid debts were about 277.5 billion yuan ($38 billion), with 1,931 lawsuits pending.
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2023-09-25 04:50:00
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