Peter Lewis: Trading of shares of property developer China Evergrande suspended in Hong Kong
Trading in shares of heavily indebted Chinese property developer China Evergrande Group was suspended in Hong Kong on Thursday, according to a notice on the Hong Kong stock exchange.
China Evergrande said in a notice on Thursday night that authorities had informed the firm that its chairman, Hui Ka Yan, had been subjected to “mandatory measures in accordance with the law due to suspicion of illegal crimes" and said that trading in the firm's shares was suspended until further notice.
The company didn't elaborate on the crimes that Hui was suspected of.
Evergrande is the world’s most heavily…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.