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Shares of China Evergrande jump after report restructuring plan to be released soon -Breaking

by Mike Robinson

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© Reuters.

HONG KONG, (Reuters) – Shares in China Evergrande Group jumped almost 12% on Monday morning after a report claimed that the Guangdong province government wanted to publish a framework plan for restructuring its debt by March. This could include the elimination of China Evergrande Group’s 60% share.

Financial intelligence firm REDD reported Friday that the province government had plans to seperate offshore assets from the company in order to clear foreign debt. Guangdong is the home of Evergrande.

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