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China Evergrande applies for trading to resume in Hong Kong on Tuesday

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China Evergrande applies for trading to resume in Hong Kong on Tuesday

The developer had notified the Hong Kong stock exchange last Thursday to suspend trading in its shares after authorities detained its founder Hui Ka-yanEvergrande Property Services has also applied for trading in its shares to resume on TuesdayChina Evergrande GroupMartin ChoiPublished: 10:12pm, 2 Oct, 2023Why you can trust SCMP

China Evergrande Group has applied for trading of its shares to resume on Tuesday, according to a filing to the Hong Kong stock exchange.

The Shenzhen-based developer said it was notified by relevant authorities last week that its chairman and founder Hui Ka-yan was placed under so-called “mandatory measures” due to “suspicion of illegal crimes”, hours after its shares and those of its two major subsidiaries were suspended from trading on September 28.“The board is of the view that there is currently no other inside information in relation to the company that needs to be disclosed,” Evergrande’s executive director Siu Shawn said in the filing late on Monday.Evergrande Property Services, the developer’s property services arm, has also applied for trading in its shares to resume on Tuesday.

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China Evergrande suspends market trading amid questions about chairman’s whereabouts

China Evergrande suspends market trading amid questions about chairman’s whereaboutsHui, known as Xu Jiayin on the mainland, has not been seen in public for some time, and his whereabouts have been a subject of intense speculation in Chinese media. His disappearance was preceded by the arrest of several top group executives last month.

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