Shares of Chinese real estate giant Evergrande fell 10.5% as it returned to the Hong Kong Stock Exchange on Thursday after a nearly three-week suspension, on reports of the failure of the sale of its property services unit.
The company’s shares fell after it announced the collapse of the deal to sell 50.1% of its unit. Evergrande Property Services Group, worth $ 2.58 billion, the company announced in a statement.
Evergrande It said it would continue to take steps to alleviate its liquidity problems, warning that “there are no guarantees that the group will be able to meet its financial obligations.”
The Shenzhen-based company has already defaulted on several dollar bonds, and the 30-day grace period for an offshore bond expires on Saturday.
The group began trading on Hong Kong in 2009, raising $ 9 billion in its initial public offering, making it the leading private real estate company in China and its owner, Xu Jiayin, the richest man in the country.
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Reference-www.eleconomista.com.mx