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Reuters
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Chinese giant Evergrande is set to strike a major deal, which could help the company cope with the threat of bankruptcy, as its debts surpass the $ 300 billion level.
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Trading in the giant “Evergrand” shares was suspended on the Hong Kong Stock Exchange today, ahead of the deal’s announcement, according to what was announced today by the “Evergrand” company.
And “Evergrand” said in a statement, “Trading in the company’s shares was suspended at 9:00 am on October 4, 2021, pending a company announcement containing information about a significant transaction.”
The giant company’s debts amount to $ 300 billion, and it has 1,300 projects in more than 280 cities, and “Evergrand” owes around 130 banks and nearly 120 non-bank financial institutions, and around 50% of the debts. of the company are in favor of entrepreneurs, according to the Bloomberg agency.
Source: RT + RIA Novosti
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