China Evergrande rues speculative attack amid cash woes ahead of January 31 deadline while takeover plan remains stuck

//China Evergrande rues speculative attack amid cash woes ahead of January 31 deadline while takeover plan remains stuck

China Evergrande rues speculative attack amid cash woes ahead of January 31 deadline while takeover plan remains stuck

China Evergrande Group, the country’s largest developer by sales, was forced counter the most brazen speculative attack yet on its financial standing after a letter circulating on the Internet on Thursday set off alarms in the market.The company’s stock sank to a four-month low on Thursday, erasing almost HK$11.8 billion (US$1.5 billion) in market value, after the letter with its letterhead and company chop went viral, showing the developer appealing for speedy approval for a 2016 business…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2020-09-24T13:21:24+00:00 September 24th, 2020|Business|Comments Off on China Evergrande rues speculative attack amid cash woes ahead of January 31 deadline while takeover plan remains stuck