Shares in the beleaguered China Evergrande Group were suspended from trading by the Hong Kong exchange Monday ahead of what the company says is « an announcement containing…
(Newser) – Shares in the beleaguered China Evergrande Group were suspended from trading by the Hong Kong exchange Monday ahead of what the company says is « an announcement containing inside information about a major transaction. » The Guardian reports that generated buzz that it would be selling its profitable property management unit, Evergrande Property Services. A report in the Global Times of China gave credence to that speculation, saying rival Hopson Development was poised to acquire a 51% stake in that unit at a cost in excess of $5 billion.
