China Evergrande be delisted from Hong Kong exchange on Aug. 25 https://t.co/W7tKBbju4X
China Evergrande Group’s stock will be delisted from the Hong Kong stock exchange at 9 a.m. on Aug. 25 as the bankrupt Chinese developer has failed to meet any of the resumption requirements set by the Hong Kong bourse, Evergrande said today. https://t.co/bJ5Suj8ZLQ
中国恒大の上場廃止が決定 香港取引所が通知、不動産不況で苦境 https://t.co/Wh2PqiwDI4
China Evergrande Group said the Hong Kong Stock Exchange will cancel its listing at 9:00 a.m. on 25 August, ending an 18-month trading suspension that began after a court-ordered liquidation. The last day the shares will be listed is 22 August, though they have not changed hands since 29 January 2024. Evergrande was ordered into liquidation by the Hong Kong High Court in January 2024 after failing to present a viable restructuring plan for what was then about US$300 billion of liabilities. Court-appointed liquidators now put recognised debt claims at roughly US$45 billion and have realised about US$255 million through asset sales, according to recent disclosures. The delisting closes a turbulent chapter for the once high-flying developer, which listed in Hong Kong in 2009 and became emblematic of China’s broader property downturn following regulators’ 2020 clamp-down on excessive borrowing. Evergrande’s shares last traded at HK$0.16, down from a peak that gave the company a market value exceeding US$50 billion.