Heavily indebted Evergrande was in talks earlier this month to sell part of its services unit to Hopson, its smaller rival. However, Hopson announced late Wednesday that
to purchase a 50.1% stake in Evergrande Property Services. Evergrande confirmed the termination of the deal in a separate filing.Loading chart... Evergrande is China's second-largest developer by sales and the industry's largest issuer of offshore bonds, with a Worries about the company's ability to repay its debt have raised concerns of spillover into China's real estate market, which — along with related industries —accounts for about a quarter of national GDP.halted trading ahead of a "major transaction."The collapse of the Hopson deal comes as Evergrande nears the end of a 30-day grace period for a closely watched
to investors in an offshore U.S. dollar-denominated bond. If the developer fails to pay by Saturday, it will technically default.in late September, "there has been no material progress on sale of assets of the Group."
😱. 10% drop, when the company is worth nothing!! I say BTD!!! Lol
Is Evergrande too big to fail?
I can’t even believe they are still listed tbh
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