By Gina Lee

Investing.com – Shares in Chinese property developer China Evergrande Group (HK:) was on Monday, ahead of “an announcement containing inside information.”

Filings from the Hong Kong stock exchange showed that trade was also halted in shares of its property services and electric vehicle units, Evergrande Property Services Group Ltd. (HK:) and China Evergrande New Energy Vehicle Group Ltd.

China Evergrande’s Hong Kong shares closed at HK$1.65 ($0.21) before the suspension and have gained 3.8% in 2022 to date after plunging 89% the previous year.

There was no explanation in the filed documents for why the company had been suspended. It comes after the company stated in January 2022 it intended to submit a preliminary restructuring plan within the next six-months.

China Evergrande has more than $300B in debts and is struggling to repay suppliers and creditors, complete homes and finish projects. The company’s flagship unit Hengda Real Estate Group Co. Ltd. also secured approval from its onshore bondholders over the weekend to delay a coupon payment due in September 2021 by a year, a company lawyer’s filing to the Shenzhen Stock Exchange on Sunday showed.

Hengda Real Estate Group hosted a meeting on March 19 with creditors for the CNY4Billion ($628.6M) 2025 Bond. 18-19 to authorize the payment of interest incurred from September 2020 to September 2021, to be made by September 2023. China Evergrande, despite missing payments from some offshore bonds, has managed to avoid any technical bond defaults.

China Evergrande’s onshore unit will sell its 30% stake in a Nanjing property company to Avic Trust Co. for an undisclosed sum, according to local media reports on Sunday.