$2.6 Billion Deal for China Evergrande Collapses, Shares Set to Slide 10.5 Percent – October 20, 2021

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Hi all…I have finally figured out the Telegram link to my Telegram channel. Please use https://t.me/roserambles1. Thanks so much!!

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HONG KONG—Shares of China Evergrande Group are set to fall 10.5 percent on Thursday after a deal to sell a $2.6 billion stake in its property services unit fell through, in the latest blow to the developer whose massive debt woes have rattled global markets.

Evergrande Property Services Group’s stock was set to drop 8 percent as trading in both companies’ shares resumed.

In a statement late on Wednesday, Evergrande said it had scrapped a deal to sell a 50.1 percent stake in its property services arm to smaller rival Hopson Development Holdings.

By cindyloucbp

Cynthia is the typical Pisces! Her left brain activities include scientific activities in the hospital laboratory as a director. Her right-brain activites show as a painter, photographer and musician. She is known as the scientist who sings!

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