(Bloomberg) – Shares in China Evergrande Group and its property management unit were suspended from trading Monday, Oct 4, as a fresh debt test loomed for the developer underscoring broader risks that have left credit markets on edge.
Hopson Development Holdings Ltd., whose shares were also suspended, plans to acquire a 51% stake in Evergrande Property Services Group Ltd. according to Chinese financial news platform Cailian, citing unidentified people. Cailian amended an earlier report to say the deal would give the unit a valuation of more than HK$40 billion (US$5.1 billion).
