Evergrande shares suspended from trading as liquidation concerns mount

[1srelluc]

Evergrande says its chairman is suspected of crimes | CNN Business

Embattled Chinese developer Evergrande Group said Thursday that Chinese authorities suspected its chairman of “crimes” and that shares in the company would remain suspended until further notice.

amp.cnn.com

Shares in embattled Chinese developer Evergrande Group and its two subsidiaries were all suspended from trading in Hong Kong on Thursday, after fears grew about its ability to restructure its mammoth debt and stave off a liquidation of the business.

The world’s most indebted real estate developer, which has total liabilities worth $328 billion at the end of June, did not indicate a reason for the suspension in a filing to the stock exchange.

Its woes deepened this week, after the company warned on Sunday that its offshore debt restructuring plan may be in trouble because of a regulatory probe into its main subsidiary in mainland China.

Yeah, given that size, I have to imagine China isn't going to just let them die......It'll probably be a bailout of some kind coupled with the quiet disappearance of their leadership.....The CEO is already in custody.

I don't see a Chinese full blown collapse happening, but this could very well be their economy turning back into a pumpkin. Recession for a few years at least, and the end long term of the glitzy gdp growth rate.

1990s Japan on steroids or worse.

 

[odanny]

China subsidizes the shit out of their biggest companies, their largest EV maker, Nio, is subsidized to the hilt and has never turned a profit. Owned by who knows how many millions but the only only reason they can keep making these cars is because the govt. is literally keeping them afloat.

Real estate development has killed many profits. They got a little too carried away with their Mao spirit.

 

[Oddball]

Evergrande says its chairman is suspected of crimes | CNN Business

Embattled Chinese developer Evergrande Group said Thursday that Chinese authorities suspected its chairman of “crimes” and that shares in the company would remain suspended until further notice.

amp.cnn.com

Shares in embattled Chinese developer Evergrande Group and its two subsidiaries were all suspended from trading in Hong Kong on Thursday, after fears grew about its ability to restructure its mammoth debt and stave off a liquidation of the business.

The world’s most indebted real estate developer, which has total liabilities worth $328 billion at the end of June, did not indicate a reason for the suspension in a filing to the stock exchange.

Its woes deepened this week, after the company warned on Sunday that its offshore debt restructuring plan may be in trouble because of a regulatory probe into its main subsidiary in mainland China.

Yeah, given that size, I have to imagine China isn't going to just let them die......It'll probably be a bailout of some kind coupled with the quiet disappearance of their leadership.....The CEO is already in custody.

I don't see a Chinese full blown collapse happening, but this could very well be their economy turning back into a pumpkin. Recession for a few years at least, and the end long term of the glitzy gdp growth rate.

1990s Japan on steroids or worse.

 

[Natural Citizen]

Oddball's the meme Champ with that one. Oh, it's true. It's damned true. Mmm hm. Yes indeed...

 

[The Duke]

View attachment 835639

I love me some Ron Paul and Ross Perot.

 

[MarathonMike]

The only thing keeping China's head above water is the Democrats and the Green Energy Morons.