The Hong Kong Stock Exchange suspended trading in shares of China's Evergrande Group on Thursday. This coincides with information about the placement of the chairman of the board of directors of the troubled Chinese real estate developer under surveillance.
Evergrande shares last closed at 32 Hong Kong cents on Wednesday. This is not the first time Evergrande shares have been suspended. Trading was suspended in March last year and trading was only resumed on August 28, after a 17-month hiatus.
Earlier this month, Evergrande delayed a debt restructuring meeting with creditors, because the group's sales were not what had been expected since the debt restructuring announcement in March.
Source (Al-Arabiya.net Website, Edited)
