https://sputnikglobe.com/20211004/evergrande-halts-trading-on-hong-kong-stock-exchange-to-announce-major-transaction-1089637872.html
Evergrande Halts Trading on Hong Kong Stock Exchange to Announce 'Major Transaction'
Evergrande Halts Trading on Hong Kong Stock Exchange to Announce 'Major Transaction'
Sputnik International
BEIJING (Sputnik) - Trading in shares of China's second largest property developer, Evergrande Group, was suspended on the Hong Kong Stock Exchange on 4... 04.10.2021, Sputnik International
2021-10-04T05:09+0000
2021-10-04T05:09+0000
2022-10-19T18:49+0000
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"At the request of the Company, trading in the shares of the Company was halted at 9:00 a.m. [01:00 GMT] on 4 October 2021 pending the release by the Company of an announcement containing inside information about a major transaction", the Hong Kong Stock Exchange said in a statement.Earlier, it was reported that Evergrande trading was being suspended on Monday morning, but no reasons were given.Hopson Development Holdings Ltd. reportedly plans to acquire a 51 percent stake in Evergrande Property Services Group Ltd. for more than $5.1 billion.Evergrande is on the brink of default after years of growth and active borrowing. Declining sales, a high-risk business model, and Beijing's actions to curb the boom in the Chinese housing market brought the company into crisis. At the end of June, Evergrande owed $304 billion. Since the beginning of this year, Evergrande's shares, which are traded in Hong Kong, have plunged 82 percent.
https://sputnikglobe.com/20210929/chinas-evergrande-to-sell-15-billion-in-shengjing-bank-shares-amid-liquidity-issues-1089508880.html
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Evergrande Halts Trading on Hong Kong Stock Exchange to Announce 'Major Transaction'
05:09 GMT 04.10.2021 (Updated: 18:49 GMT 19.10.2022) BEIJING (Sputnik) - Trading in shares of China's second largest property developer, Evergrande Group, was suspended on the Hong Kong Stock Exchange on 4 October ahead of a major deal.
"At the request of the Company, trading in the shares of the Company was halted at 9:00 a.m. [01:00 GMT] on 4 October 2021 pending the release by the Company of an announcement containing inside information about a major transaction", the Hong Kong Stock Exchange said in a statement.
Earlier, it was reported that Evergrande trading was being suspended on Monday morning, but no reasons were given.
29 September 2021, 08:29 GMT
Hopson Development Holdings Ltd. reportedly plans to acquire a 51 percent stake in Evergrande Property Services Group Ltd. for more than $5.1 billion.
Evergrande is on the brink of default after years of growth and active borrowing. Declining sales, a high-risk business model, and Beijing's actions to curb the boom in the Chinese housing market brought the company into crisis. At the end of June, Evergrande owed $304 billion. Since the beginning of this year, Evergrande's shares, which are traded in Hong Kong, have plunged 82 percent.
