China Evergrande Group will be delisted from the Hong Kong Stock Exchange on Aug. 25, ending its public trading era after a court-ordered liquidation and 18-month trading halt.
The Stock Exchange notified the company on Aug. 8 that trading had not resumed by July 28, leaving no avenue for review.
The last official listing day is Aug. 22, after which the shares will no longer be tradable.
In late January last year, a Hong Kong court issued a winding-up liquidation order, concluding that Evergrade had failed to propose a viable debt-restructuring plan and had exhausted multiple extensions.
Judge Linda Chan, who ruled over the case, declared that “enough is enough.”…
China Evergrande to Be Delisted Amid Real Estate Market Downturn
