January 3, 2022

Evergrande Suspends Trading On First Day Of 2022

 Evergrande’s ‘Great Wall’ was closed for no reason.

Shares of Evergrande Gruop China were suspended from trading on Monday (January 3).

Until now, Evergande has not stated the reason for the suspension of trade.

It is well known that Evergande is the world's most indebted property developer with a total debt of US $ 300 billion and US $ 20 billion in international market bonds and has planned to restructure its company by setting up a risk management committee last year.

Last Friday, Evergrande shares closed KH $ 1.59 and were down 89%.

Meanwhile, its electric car (EV) unit, China Evergrande New Energy Vehicle Group fell 10% on Monday with property management unit Evergrande Services falling 2.3%.