Today news
About the same in other media
China Evergrande shares fall sharply after $2.6bn asset sale collapses
Reading now: 685
Shares in the struggling property giant China Evergrande have fallen sharply after plans to offload a stake in one of its units for $2.6bn fell through, casting further doubt over whether it can avert the country’s biggest ever corporate failure.
China Evergrande Group, the parent company for the sprawling empire built by former steel industry executive Xu Jiayin, was down more than 10% in Hong Kong at midday on Thursday. Evergrande Property Services, one of its most profitable units, was off by 6.45%.
Evergrande announced on Wednesday that it had formally abandoned plans to sell a 50.1% slice of Evergrande Property Services, and said there was “no guarantee” it could meet its financial obligations in order to stay afloat.
The company, which
Read more on theguardian.comAbout this in other media
China’s Economy Faces Risk of Yearslong Real-Estate Hangover wsj.com /3 years ago
China, shipping and Brexit: why UK may face Christmas toy shortage theguardian.com /3 years ago
Despite crackdown, blockchain, metaverse going strong in China ambcrypto.com /3 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
