HONG KONG: Shares in troubled Chinese property giant Evergrande plummeted more than 80 percent in Hong Kong on Monday morning after the lifting of a 17-month trading suspension. FALLING DOWN A man walks past the China Evergrande Centre in Hong Kong on July 28, 2022. The Chinese property giant nose-dived more than 80 percent in Hong Kong on Monday, Aug. 28, 2023, after resuming trade. The plan offers creditors a choice to swap their debt into new notes issued by the company and equities in two subsidiaries, Evergrande Property Services Group and Evergrande New Energy Vehicle Group. In March 2022, the Hong Kong stock exchange suspended trading in Evergrande shares after the company failed to publish its 2021 financial results.

Source: Manila Times August 29, 2023 04:19 UTC