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China Evergrande liquidation: Hong Kong court order forces halt to share trading

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A Hong Kong court on Monday, ordered the liquidation of China Evergrande, the world’s most indebted developer.

The move could send shockwaves through already fragile capital and property markets with one economist in Hong Kong suggesting it could lead to “painful” corporate restructuring.

“It’s quite likely that Evergrande will be broken down into much smaller companies if it still survives in the future,” said Gary Ng, a senior economist at the Investment banking company Natixis.

“So, maybe it’s not the end of the world for the macro economy, but I still think on the corporate level it can be quite painful.”

Shares in Evergrande and its listed subsidiaries were suspended from trading after the liquidation order. Listing rules require that a company demonstrate a business structure with sufficient operations and asset values.

For more info, please go to https://globalnews.ca/news/10256920/china-evergrande-liquidation-order/
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U.S. & Canada
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global news, China Evergrande, China Evergrande liquidation
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