China Evergrande and Its Units Suspend Trading in Hong Kong

Embattled Chinese real estate developer China Evergrande Group along with its other units suspended trading in Hong Kong Monday morning, according to exchange filings.

Shares of Evergrande Property Services Group and China Evergrande New Energy Vehicle Group were halted without giving any reasons.

The Shenzhen-based Evergrande said in January that it aimed to present a preliminary restructuring proposal in the next six months. It has been at the center of a cash crisis among Chinese property developers following Beijing’s crackdown.

Author: John Cheng, Bloomberg

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