Shares Suspended From Trading in Hong Kong: Evergrande Update

  • Bloomberg
  • Stock Market News
Shares Suspended From Trading in Hong Kong: Evergrande Update
Credit: © Reuters.

(Bloomberg) -- China Evergrande Group announced its shares will be suspended from trading on the Hong Kong stock exchange on Monday without giving a reason. 

Cifi Holdings, a Chinese property developer, offered to buy its outstanding 5.5% bond due in 2022 at $1,000.5 for each $1,000 in principal amount plus accrued and unpaid interest. 

Key Developments:

  • Evergrande Suspends Trading in Hong Kong
  • China Developers’ 2022 Home-Sales Recovery Could Be Challenging
  • Developer Cifi Offers to Purchase Outstanding 5.5% 2022 Bond

Evergrande Suspends Trading in Hong Kong (8:58 a.m. HK)

The company gave no reason for the trading suspension.

China Evergrande on Friday dialed back payment plans on billions of dollars of overdue wealth management products as its liquidity crisis showed little sign of easing.

Developer Cifi Offers to Purchase Outstanding 5.5% 2022 Bond (7:52 a.m. HK)

Cifi Holdings offered to buy the outstanding notes at $1,000.5 for each $1,000 in principal amount plus accrued and unpaid interest, it said in a statement to the Hong Kong stock exchange.

The Chinese developer will determine the aggregate principal amount of notes that it will accept for purchase. The offer to buy the $505.1 million of notes that remain outstanding will expire at 4pm London time on Jan. 7.

©2022 Bloomberg L.P.

© Bloomberg. The construction site of a China Evergrande Group development in Wuhan, China, on Wednesday, Dec. 22, 2021. Defaulter China Evergrande Group is prioritizing payments to migrant workers and suppliers as regulators demand that the developer head off risk of social unrest. Photographer: Andrea Verdelli/Bloomberg

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100