On Monday, Evergrande New Energy Vehicle shares (Evergrande NEV), the electric vehicle unit of Evergrande, the troubled Chinese developer, went down sharply after a new initial public offering was canceled. Evergrande New Energy Vehicle shares fell more than 10 percent to HK$1.95, after the
Chinese property developer Evergrande Group is plagued by bankruptcy rumors, and it has been revealed that some of the group’s executives have deducted money from invested products before maturity. Major foreign media reported on the 19th that 44 high-ranking people in Evergrande group owned investment products from an investment company affiliated with Evergrande.
On Monday, Evergrande, one of China’s most indebted private conglomerates, was badly beaten on the Hong Kong stock exchange, losing more than 12% at a time when the group’s financial health is worrying. The Chinese real estate giant has diversified its acquisitions in recent years and has benefited from the boom in the sector, but […]