HONG KONG, Dec 8 — Chinese property firm Kaisa suspended share trading in Hong Kong on Wednesday as questions swirl over its ability to make repayments and contagion spreads within the country’s debt-ridden real estate sector.
Kaisa, China’s 27th-largest real estate firm but one of its most indebted, became the latest company to spook investors when it announced on Friday that it had failed in a bid for a debt swap that would buy it crucial time. But the offer failed to win the 95 per cent approval from bondholders needed for the plan to go ahead.
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