Stock Groups

Shares Suspended From Trading in Hong Kong: Evergrande Update -Breaking

by Mike Robinson

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© Bloomberg. On Wednesday, December 22, 2021, the construction site at China Evergrande Group’s Wuhan development was opened. China Evergrande Group defaulter is prioritizing payments for migrant workers, and suppliers to ensure that there are no social unrest. Photographer: Andrea Verdelli/Bloomberg

(Bloomberg). — China Evergrande Group has announced that its shares would be removed from the Hong Kong stock market on Monday, without stating a reason. 

Cifi Holdings, an Chinese property developer, offered $1,000.5 to purchase the 5.5% bond due by 2022. This amount includes accrued, unpaid and principal amounts. 

The Key Developments

  • Evergrande Suspends Trading in Hong Kong
  • China Developers’ 2022 Home-Sales Recovery Could Be Challenging
  • Cifi offers to purchase outstanding 5.5% bond in 2022

Evergrande Suspends Trading in Hong Kong (8:58 a.m. HK)

Trading suspension was not a reason given by the company.

China Evergrande cut back Friday payment plans for millions of dollars worth of wealth management products it owed, in light of its liquidity crisis that showed no signs of abating.

Cifi, Developer offers to purchase outstanding 5.5% bond 2022 (7:52 AM HK)

Cifi Holdings said it offered to purchase the notes outstanding at 1,000.5 per $1,000 principal plus accrued interest.

Chinese developers will set the principal amount of notes they will buy. On Jan. 7, at 4pm London, the Chinese developer will withdraw its offer to acquire $505.1 millions of unpaid notes.

©2022 Bloomberg L.P.

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