2023-08-28 09:42:02
The shares of Evergrande Group, which is listed on the Hong Kong Stock Exchange, had been suspended since March last year following the company might not announce its financial results, but on the 28th, regarding a year ago. Trading resumed following 5 months.
In the trading on the 28th, sell orders surged from the morning, and the stock price temporarily plummeted by 87% compared to before the suspension of trading, dropping to 0.22 Hong Kong dollars and 4.1 yen to the Japanese yen.
After that, there were some buybacks, but the closing price on the 28th was 0.35 Hong Kong dollars, down 79% from before the suspension.
On August 17, Evergrande Group filed for Chapter 15 bankruptcy protection in a US court to proceed with debt restructuring.
The company plans to accelerate the restructuring of debts and proceed with management reconstruction, but discussions toward restructuring are expected to be difficult, such as postponement of discussions with creditors scheduled for the 28th to late September. .
In addition, as the slump in the real estate market has continued for a long time, the financial results for the six months until June have been in the red with a final deficit of regarding 660 billion yen in Japanese yen, and the business has continued to be difficult, and trading resumed on the 28th. So, the concerns of the market have become embossed.
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