Shares in crisis-hit Chinese property giant Evergrande have been suspended in Hong Kong amid reports its chairman has been placed under police surveillance.
It follows reports earlier this week that other current and former executives had also been detained.
Thursday’s market statement did not give a reason for the trading halt.
But it marks another low for the heavily indebted property giant which defaulted in 2021, triggering China’s current real estate market crisis.
In August, the firm filed for bankruptcy in New York, in a bid to protect its US assets as it worked on a multi-billion dollar deal with creditors.
Is that supposed to be a good thing?
Yes, innocent until proven guilty
He literally turned himself in and admitted to his crimes before then
You go to jail when sentenced, not before.
People get detained and arrested prior to being sentenced though
Sure, and then they have a bail hearing
Good thing rich people never have a hard time with that
Most people make bail, unlike Sam Bankman Fried
He fucked with the wrong people
Lol or didn’t get enough dirt on them to keep them from coming after him :p