Evergrande shares suspended in Hong Kong amid acquisition rumours | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

Evergrande shares suspended in Hong Kong amid acquisition rumours

Trading in shares of China’s troubled real estate giant Evergrande was suspended on the Hong Kong Stock Exchange (HKEX) on Monday, as the world’s most indebted developer missed back-to-back interest payment deadlines and continues its attempts to pay off investors.

“Trading in the shares of China Evergrande Group will be halted at 9am today,” a regulatory filing with HKEX said, without stating a reason. “Accordingly, all structured products relating to the company will also be halted from trading at the same time.”

HKEX did not specify the reasons behind the halt or who initiated the suspension. However, it has intensified speculation over a potential acquisition in the company’s property management unit, as the cash-strapped company has been making attempts to raise money to meet its dues.

Cailian, a Chinese online news service affiliated with the state-run newspaper Securities Times, said another developer, Hopson Development Holdings, was planning to acquire a majority share in Evergrande Property Services Group.

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