Highly indebted real estate developer to release ‘announcement containing inside information’.
ANKARA (AA) – Crisis-hit real estate developer China Evergrande Group on Monday suspended trade in its shares in Hong Kong.
No reason was given for the trading halt, according to a statement from Hong Kong Exchanges and Clearing Limited.
“At the request of the company, trading in the shares of the company was halted at 9 a.m. on Jan. 3 pending the release by the company of an announcement containing inside information,” read the statement.
Evergrande has more than $300 billion in liabilities that could default as it missed payments last month.