Evergrande halts share trading in Hong Kong pending announcement
China Evergrande is struggling under a mountain of debt worth more than $300 billion
Embattled property giant China Evergrande suspended trading in its shares in Hong Kong on Monday pending an announcement on a “major transaction”, as the firm struggles in a sea of debt and faces a default.
“At the request of the Company, trading in the shares of the Company was halted at 9:00 a.m. on 4 October 2021 pending the release by the Company of an announcement containing inside information about a major transaction,” Evergrande said in a statement to the Hong Kong stock exchange.
Originally published as Evergrande halts share trading in Hong Kong pending announcement
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