Evergrande Halts Trading After Founder Put Under Police Control

Suspension comes after report on founding chairman Hui
Shares have tumbled on concern over possible liquidation

WATCH: Evergrande, the world’s most indebted developer, has suspended trading in Hong Kong, along with its units. Lorretta Chen reports.Source: Bloomberg

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By Bloomberg News

September 28, 2023 at 1:03 AM UTC

Updated on

September 28, 2023 at 3:50 AM UTC

This article is for subscribers only.

China Evergrande Group and its units suspended trading in Hong Kong, a day after people familiar with the matter said the property giant’s founder had been taken away by police.

No reason was given for the halt in a notice to the Hong Kong stock exchange on Thursday.