US EditionEvergrande: China property giant suspends shares as police target chairman
- Shares of China Evergrande Group were suspended as concerns grew about the developer's future and increasing liquidation risk.
- Evergrande, with over $300 billion in liabilities, represents a debt crisis in China's property sector.
- The company's founder, Hui Ka Yan, has reportedly been placed under police watch and is being monitored at a designated location.
72 Articles
72 Articles
Indebted China property giant Evergrande says boss suspected of crimes after suspending trading
By Holmes Chan Heavily indebted property giant China Evergrande said Thursday its boss was suspected of “illegal crimes”, after trading of its shares was suspended earlier in the day. China Evergrande Centre in Admiralty. File photo: Wikicommons. The company announcement to the Hong Kong Stock Exchange comes a day after media reports that Xu Jiayin was being held by police. No specific reason was given for the decision to suspend share trading, …
Evergrande says its Chairman is under investigation for “crimes”
Beijing [China], September 29 (ANI): Embattled Chinese developer Evergrande Group said on Thursday that Chinese authorities suspected its chairman of “crimes”, adding that the shares in the company would remain suspended until further notice, CNN reported. Earlier in the day, trading in the shares of Evergrande and two subsidiaries was halted in Hong Kong, stoking […]
Evergrande spirals even further after halting its shares and admitting its billionaire chairman is detained due to 'suspicion of illegal crimes'
China's Evergrande halted trading of its shares on Thursday, after being informed by authorities that Hui Ka Yan was being investigated.
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