BEIJING — China EvergrandeAfter a sale of some assets, shares dropped by more than 10% during the opening trade. Hopson Development HoldingsThe deal was not reached.

Hopson shares were slightly higher in trading, Evergrande Property ServicesMorning trade saw a drop of around 9%

Evergrande, a heavily indebted company was discussing the sale of a portion of its services business to Hopson earlier in this month. Hopson made the announcement late Wednesday. talks fell throughPurchase a 50% share in Evergrande Property Services. Evergrande filed a separate statement confirming the end of the transaction.

According to reports, the deal was worth $20.04 billion Hong Kong dollar ($2.58 billion).

Evergrande has a reputation for being China’s number two developer in terms of total sales, and is also the biggest issuer of off-shore bonds within its industry. total of about $300 billion in liabilities. Worries about the company’s ability to repay its debt have raised concerns of spillover into China’s real estate market, which — along with related industries —accounts for about a quarter of national GDP.

The three stock markets reopened Thursday after more than two weeks of halting trading. halted trading ahead of a “major transaction.”

Evergrande is close to the expiration of a grace period of 30 days for Hopson, which Evergrande closely monitors. $83 million interest paymentInvestors in an offshore U.S. Dollar-denominated bond. Technically, default will occur if the developer does not pay its obligations by Saturday

Evergrande stated Wednesday night that its $1.5 billion sale was the best thing it has done since then. stake in Shengjing BankLate September saw “no material progress” in selling assets.

Last week, Reuters, citing reliable sources, reported that the Chinese state-owned company was being sold. Yuexiu PropertyIt has dropped a $1.7 billion dealEvergrande Hong Kong Headquarters Building to be purchased

CNBC asked both companies for comments but did not receive a response immediately.

Evergrande’s reliance on borrowing to grow rapidly was brought under closer scrutiny by the government last year. The rollout of “three Red Lines” policies for real estate companies in order to lower their debt ratio to assets led to greater government scrutiny.

China Evergrande, however, had broken all three red lines by the end of the first quarter of 2011, while Hopson, Yuexiu, and Yuexiu, as reported by Natixis.

Evergrande stated that the contracted property sales of the company since September’s beginning totaled 3.65 Billion Yuan ($571.1 Million) as of Oct. 20.

This is 90% less than August’s 38.08 billion Yuan contract property sales.

Evergrande reported that year-to date, the property contracts sales through Oct. 20 totalled 442.3 billion yuan.

Since Friday the People’s Bank of China has saidEvergrande can be controlled individually, as has been stated more than once.

Recenty, governor of the central banks Yi Gang said WednesdayThe first step in preventing Evergrande from becoming a risk to other real-estate companies is to stop Evergrande spreading its risks.

Vice Premier Liu He stated Wednesday at a forum that individual issues have arisen in the real-estate market. reasonable funding needs are being met. Liu did not mention Evergrande by name.