Suspension comes amid concerns Kaisa, China’s largest holder of offshore debt after Evergrande, may not meet a $400m repayment deadline
Trading in shares of embattled Chinese developer Kaisa Group Holdings have been suspended on the Hong Kong stock exchange, prompting fresh nerves about the financial stability of the country’s massive property sector.
The suspension on Wednesday comes after Kaisa was reportedly unlikely to meet a dollar bond repayment of $400m (£301m) by the deadline of Tuesday night in the US, Reuters said, citing a source with direct knowledge of the matter.
Continue reading…
