China Evergrande Group on Monday said it has applied to the Hong Kong Stock Exchange for trading in its shares to resume on Tuesday, adding there is currently no other inside information that needs to be disclosed.
Trading in shares of the embattled Chinese property developer were suspended last Thursday and the company later said its founder and chairman Hui Ka Yan was being investigated over suspected crimes.
The news signalled for the first time that authorities could hold the company's billionaire founder accountable for the developer's spiralling financial woes.
Mr Hui is being investigated on suspicion of transferring assets offshore while the indebted property developer struggles to complete unfinished projects, The Wall Street Journal reported on Monday.
Evergrande did not respond to a Reuters request for comment.
With more than $300 billion in liabilities – roughly the size of Finland's gross domestic product – Evergrande has become the poster child of a debt crisis in China's property sector, which contributes to about a quarter of the economy.
Evergrande has been working to gain creditors' approval for restructuring its offshore debt. The process grew more complicated last week after Evergrande said it was unable to issue new debt due to an investigation into its main China unit.
The offshore debt-restructuring plan now looks set to falter and the chances of the company being liquidated are rising, some analysts say.
Reuters reported last Tuesday that a major Evergrande offshore creditor group was planning to join a liquidation court petition filed against the developer if it did not submit a new debt-revamp plan by the end of this month.
Company%20Profile
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Killing of Qassem Suleimani
Panipat
Director Ashutosh Gowariker
Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment
Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman
Rating 3 /5 stars
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
KILLING OF QASSEM SULEIMANI
Match info
Uefa Champions League Group H
Manchester United v Young Boys, Tuesday, midnight (UAE)
SPEC%20SHEET%3A%20APPLE%20IPAD%20(2022)
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Graduated from the American University of Sharjah
She is the eldest of three brothers and two sisters
Has helped solve 15 cases of electric shocks
Enjoys travelling, reading and horse riding
Mental%20health%20support%20in%20the%20UAE
%3Cp%3E%E2%97%8F%20Estijaba%20helpline%3A%208001717%3Cbr%3E%E2%97%8F%20UAE%20Ministry%20of%20Health%20and%20Prevention%20hotline%3A%20045192519%3Cbr%3E%E2%97%8F%20UAE%20Mental%20health%20support%20line%3A%20800%204673%20(Hope)%3Cbr%3EMore%20information%20at%20hope.hw.gov.ae%3C%2Fp%3E%0A
