According to Hong Kong stock exchange filings, stocks related to developer China Evergrande Group were suspended from trading on Monday, March 21.

Shares of Evergrande Property Services Group and China Evergrande New Energy Vehicle Group were also halted. The filings did not give a specific reason for Evergrande’s trading suspension.

This is the third time Evergrande Group’s stock has been suspended in six months.

The New York Times reported that, on the first trading day of the Hong Kong stock market in 2022, China Evergrande stated that they halted trading their stock pending an announcement “containing inside information,” but without giving more details.

China Evergrande’s stocks were suspended last October while the company attempted to complete the sale of a $2.6 billion stake in its property management unit.

Besides suspending stock trading, Evergrande Group has also repeatedly requested the right to delay payments of domestic notes.

According to Reuters, last week, onshore bondholders of the 4 billion CNY ($629 million) 2025 bond approved for Hengda Real Estate Group delayed interest payment. In September 2023, it will pay the interest incurred from September 2020 to September 2021.

According to a statement to the Shenzhen Stock Exchange by Evergrande’s Hengda Real Estate Group unit, onshore bondholders of a 4.5 billion CNY ($708 million) onshore bond due in January 2023 decided to extend the redemption and coupon payment deadlines by six months, from January 8 to July 8, 2023.

Before the suspension, Evergrande’s stock was trading at 1.65 HKD (0.21 dollars). Its shares have risen 3.8% this year after plunging 89% in 2021.

Sign up to receive our latest news!

By submitting this form, I agree to the terms.