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Dinkun Chen
The management of the exchange chose to halt the listing of the shares due to no trades occurring in the last 18 months.
Evergrande used to be the biggest real estate developer in China, boasting a market capitalization of $50 billion in 2017. Nevertheless, the firm subsequently experienced a debt crisis, with liabilities surpassing $300 billion, and it failed to meet dollar bond payments in late 2021. It was unable to finalize a deal with creditors regarding debt restructuring, and in 2024 the court mandated the company's liquidation.
Evergrande stock was last exchanged on January 29, 2024. At that moment, its market capitalization stood at 2.15 billion Hong Kong dollars ($274 million).
“Even if they aren't delisted, Evergrande investors need to be ready to forfeit nearly all their investments”, stated Bloomberg Intelligence analyst Christy Hang. “The developer's liquidation and major creditor claims further up the hierarchy indicate that shareholders might receive nothing.”
source: bloomberg.com
Evergrande used to be the biggest real estate developer in China, boasting a market capitalization of $50 billion in 2017. Nevertheless, the firm subsequently experienced a debt crisis, with liabilities surpassing $300 billion, and it failed to meet dollar bond payments in late 2021. It was unable to finalize a deal with creditors regarding debt restructuring, and in 2024 the court mandated the company's liquidation.
Evergrande stock was last exchanged on January 29, 2024. At that moment, its market capitalization stood at 2.15 billion Hong Kong dollars ($274 million).
“Even if they aren't delisted, Evergrande investors need to be ready to forfeit nearly all their investments”, stated Bloomberg Intelligence analyst Christy Hang. “The developer's liquidation and major creditor claims further up the hierarchy indicate that shareholders might receive nothing.”
source: bloomberg.com
