(Beijing Comprehensive News) China Real Estate Enterprise Evergrande Group, which is deeply trapped in the debt crisis, announced that it has met all the resumption requirements after a trading of 17 months, and will officially resume trading from next Monday (August 28).
Comprehensive Surging News, Bloomberg, and every news report, China Evergrande Group issued an announcement on the evening of Friday (August 25) that the company has met the six requirements of the resumption and applied to the Hong Kong Stock Exchange on August 28Starting from 9 am in the morning, the shares of the buying and selling company will be resumed.
Evergrande Group appeared in December 2021 for the first time in the US dollar debt defaults. Since then, it has negotiated with the reorganization and creditors for nearly two years.As of the end of last year, the total loan was as high as RMB 243.7 trillion (S $ 453.3 billion).
Evergrande's last trading price in March last year was HK $ 1.65 (S $ 0.29), a decrease of about 95%from the peak in 2017, with a market value of 21.8 billion Hong Kong dollars.
Evergrande announced its suspension on March 21 last year, and it has been 17 months.In accordance with the regulations of the Hong Kong Stock Exchange, if the trading is suspended for 18 months, it will face the risk of being delisted.China Evergrande's resumption of trading also means that after the resumption of Evergrande Property and Evergrande Automobile, Evergrande listed companies have completed a comprehensive resumption of trading.
In order to meet the requirements of the resumption, Evergrande Group not only released the long -term delayed 2021 and 2022 financial reports last month, but also actively disclosed asset operations, management integrity issues, internal control audit of enterprises, and subsidiaries Evergrande EvergrandeThe property of 13.4 billion yuan of RMB deposits was made in the independent investigation of the pledge incident.
