Property Giant Evergrande Shares Tumble for 2nd Day

NTD Newsroom
By NTD Newsroom
September 26, 2023China in Focus

Another day of slump for the world’s most indebted company.

Chinese property giant Evergrande’s stock price tumbled for a second day on Sept. 26.

They fell as much as 8 percent in Hong Kong trade following news of more debt troubles.

Its main domestic unit—Heng-da Real Estate—said it had failed to make payments due the day before after Evergrande said that it was unable to issue new debt.

Evergrande said that’s due to an ongoing investigation into Heng-da by regulators.

Now the company says it will negotiate with bondholders to find a solution to the missed payment.

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