October 4, 2021
1 min read

Evergrande share trading halted

The firm said the trade halt came ahead of “an announcement containing inside information about a major transaction”….reports Asian Lite News

Chinese property giant Evergrande’s shares have been suspended as investors await a statement about its future, the BBC reported.

The crisis at the world’s most indebted property developer has triggered fears that its potential collapse could send shockwaves through global markets.

The firm said the trade halt came ahead of “an announcement containing inside information about a major transaction”.

It comes amid reports that a rival real estate firm is reportedly set to buy a majority stake in an Evergrande unit, the report said.

In a regulatory statement to the Hong Kong Stock Exchange, Evergrande Group said that its shares had been suspended from trading “pending the release by the Company of an announcement containing inside information about a major transaction”.

Meanwhile, rival Hong Kong-listed property firm Hopson Development is set to buy a 51 per cent stake in Evergrande Real Estate for around $5 billion, according to Chinese news outlet Cailian Press.

Hopson has not yet commented on the report but has suspended trading in its shares, pending an announcement “in relation to a major transaction”.

Evergrande’s problems have rocked markets over concerns about its more than $300 billion of debt.

ALSO READ: Sajid Gets A Spicy Surprise

ALSO READ: Consumer spending: Disney Plus crosses $1.5 bn milestone

Previous Story

Urgent steps must be taken to save world’s third pole

Next Story

First official EgyptAir land at Israel

Latest from -Top News

IMF hails India’s economic reforms

The IMF on Tuesday raised India’s growth projection to 6.6 per cent, an upward swing of 0.2 percentage points…reports Asian Lite News IMF Managing Director Kristalina Georgieva on Thursday praised India for

Trump plans new squeeze on Russia

US President Donald Trump plans to tighten pressure on Moscow by halting global energy imports from Russia….reports Asian Lite News Since imposing a large sum of “reciprocal” trade tariff, Trump has been

India, Lanka deepen trade, education ties

The leaders discussed ways to enhance bilateral cooperation between India and Sri Lanka in education and capacity building….reports Asian Lite News External Affairs Minister S. Jaishankar met Sri Lankan Prime Minister Harini

Yunus regime faces military heat

Army Chief, General Waker-uz-Zaman, is facing immense pressure from his officers, and this led him to cancel his visits to India and Saudi Arabia….reports Asian Lite News A major showdown is looming

India, Uganda vow deeper ties

Minister of State Kirti Vardhan Singh met Ugandan President Yoweri Museveni on Thursday to discuss strengthening India–Uganda ties….reports Asian Lite News Union Minister of State for External Affairs Kirti Vardhan Singh met
Go toTop

Don't Miss

With new bill, US Senators warn China against Taiwan invasion

This bill comes at a time when the experts fear

Beijing opposes new US sanctions on Ethiopia

Zhao made the remarks at a press briefing in response