EGRNF - Chinese Property Giant Evergrande Stock Halts Trading Amid Mounting Woes | Benzinga
Shares of crisis-hit China Evergrande Group (OTC: EGRNF) have been suspended in Hong Kong amid reports that its chairman has been under police surveillance, marking another low for the heavily indebted Chinese property giant, which defaulted in 2021, triggering China's current real estate market crisis.
Following Evergrande's inability to repay investors, Chinese authorities have taken certain employees from the company's wealth management division into custody.
On Wednesday, Bloomberg News reported that the firm's founder, Hui Ka Yan, had been taken away by police this month and was monitored at a designated location.
The company faces an October 30 hearing at ...