China Evergrande Group said Hong Kong Exchanges and Clearing will cancel its listing at 9:00 a.m. on 25 August, with the last trading day set for 22 August. The decision ends a 16-year run on the bourse for what was once the country’s largest private developer by sales. Evergrande’s shares have been suspended since 29 January 2024, the day a Hong Kong court ordered the company into liquidation. The developer failed to meet any of the bourse’s resumption requirements, prompting HKEX to invoke its fast-track delisting rule for companies halted more than 18 months. Liquidators Edward Middleton and Tiffany Wong of Alvarez & Marsal disclosed that about US$45 billion in creditor claims have been lodged, while recoveries to date amount to only US$255 million. The team has hired bankers to sell a property-management unit after earlier efforts faltered, underscoring the slim prospects for a holistic restructuring. Evergrande defaulted on offshore bonds in December 2021, triggering a property-sector debt crisis that has now entered its fourth year. At its 2017 peak the company was worth more than US$50 billion; its market value had fallen below HK$2.2 billion when trading stopped. The delisting underlines continuing stress in China’s real-estate market, where other developers including Country Garden and Sunac also face severe financial pressure.