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China Evergrande shares set to slide 10.5% after $2.6 billion deal collapses -Breaking

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© Reuters. FILEPHOTO: China Evergrande Group’s headquarters can be seen in Shenzhen (Guangdong Province, China) September 26, 2021. REUTERS/Aly song/File photo

HONG KONG, (Reuters) – Shares in China Evergrande Group will fall 10.5% Thursday following a failed deal to sell a $2.6B stake in the company’s property services unit. This is the latest setback for the developer whose huge debt problems have shaken global markets.

Evergrande Property Services Group stock will drop by 8% when trading resumes in the shares of both companies.

Evergrande announced late Wednesday that it has ended a plan to sell 50.1% of its property services arm, Hopson Development Holdings.

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