EconomicNews Briefs

China Evergrande Stock Was Halted Pending a ‘Major Transaction.’

“The stock of embattled property developer China Evergrande (ticker: 3333.Hong Kong) was halted in Hong Kong trading Monday pending an announcement on a “major transaction,” the company said in a filing.

It comes amid reports rival developer Hopson Development Holdings is planning to buy around 51% of Evergrande’s property services unit for more than HK$40 billion ($5 billion). Shares of Evergrande Property Services Group (6666 Hong Kong) and Hopson (754.Hong Kong) were also suspended on Monday.”

Full Story: China Evergrande Stock Was Halted Pending a ‘Major Transaction.’

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