China developer Evergrande shares suspended from trade in Hong Kong
[HONG KONG] Shares in Chinese property developer Evergrande Group were suspended from trading in Hong Kong on Monday afternoon, the stock exchange said, without giving a reason for the halt.
Evergrande, the country's no. 2 developer by sales for the first half of this year, said it would issue a statement later in the day.
Highly acquisitive Evergrande has captured investor attention after amassing some US$57 billion in debt, although it has a market value of about US$10 billion.
It has also bought shares worth US$2.2 billion in rival China Vanke, putting itself itself in the middle of a high profile corporate battle.
Last week it said it was selling some non-core assets for US$405 billion.
Its shares last traded at HK$5.24, unchanged from Friday.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard