(Bloomberg) — Embattled Chinese real estate developer China Evergrande Group along with its other units suspended trading in Hong Kong Monday morning, according to exchange filings.
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Shares of Evergrande Property Services Group and China Evergrande New Energy Vehicle Group were also halted without giving any reasons.
The pause comes after Shenzhen-based Evergrande said in January that it aimed to present a preliminary restructuring proposal in the next six months. The firm has been at the center of a cash crisis among Chinese property developers following Beijing’s crackdown.
Investors are watching for signs of further asset sales as the group faces pressure from bondholders and offshore creditors in what’s likely to become one of China’s largest restructurings. The company has more than $300 billion in liabilities and is under pressure to pay suppliers and…
