Shares in crisis-hit Chinese property giant Evergrande have been suspended in Hong Kong amid reports its chairman has been placed under police surveillance.
It follows reports earlier this week that other current and former executives had also been detained.
Thursday’s market statement did not give a reason for the trading halt.
Thursday’s market statement did not give a reason for the trading halt.
In August, the firm filed for bankruptcy in New York, in a bid to protect its US assets as it worked on a multi-billion dollar deal with creditors.
The market trading halt now comes just a month after the firm’s previous 17-month suspension was lifted.
Evergrande – once valued as the world’s most valuable property developer – is at the centre of a real estate crisis threatening the world’s second largest economy.
With more than $300bn (£247bn) of debt, the firm has been scrambling to raise cash by selling assets and shares to repay suppliers and creditors.
Most of Evergrande’s debt is owed to people within China, many of whom are ordinary citizens whose homes have not been finished.
Shares in crisis-hit Chinese property giant Evergrande have been suspended in Hong Kong amid reports its chairman has been placed under police surveillance.
Thursday’s market statement did not give a reason for the trading halt.
It follows reports earlier this week that other current and former executives had also been detained.
In August, the firm filed for bankruptcy in New York, in a bid to protect its US assets as it worked on a multi-billion dollar deal with creditors.
Thursday’s market statement did not give a reason for the trading halt.
Thursday’s market statement did not give a reason for the trading halt.
In August, the firm filed for bankruptcy in New York, in a bid to protect its US assets as it worked on a multi-billion dollar deal with creditors.
The market trading halt now comes just a month after the firm’s previous 17-month suspension was lifted.
Evergrande – once valued as the world’s most valuable property developer – is at the centre of a real estate crisis threatening the world’s second largest economy.
With more than $300bn (£247bn) of debt, the firm has been scrambling to raise cash by selling assets and shares to repay suppliers and creditors.
Most of Evergrande’s debt is owed to people within China, many of whom are ordinary citizens whose homes have not been finished.
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