Evergrande: defaulted developer gets delisting reminder as restructuring, probe on US$2 billion deposits leave investors in the dark

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by Boo_Randy

Insolvent Chinese property developers are running out of road to play “extend and pretend” as the financial reckoning day bears down on them. Coming soon to a property bubble near you.

www.scmp.com/business/article/3182513/evergrande-defaulted-developer-gets-delisting-reminder-restructuring-probe

China Evergrande, which defaulted on its dollar-denominated bonds in December, is getting an early stock delisting warning as the developer struggled to publish its audited accounts and report on a US$2 billion enforcement action by lenders.

The Hong Kong stock exchange on Tuesday issued a “resumption guidance” for the Shenzhen-based home builder to comply with its listing rules, according to a filing, as the stock remained suspended from trading since March 21.

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