China’s Evergrande, the world’s largest debtor, continues its fall from profitability while another company in the same sector, Fantasia Holdings, announced it is liquidating as well.
We’ve reported on Evergrande for a few months now. The one time world’s largest debtor was failing back in September.
This was a sign of a bigger problem for China involved in their real estate sector.
Today in Hong Kong, the stock price for Evergrande decreased again after the Chairman of the company sold a significant stake he held in the failing company.
Shares in China Evergrande Group fell as much as 4.8% on Monday morning, after its chairman trimmed his stake in the cash-strapped property developer to raise about $344 million.
Now another large holding company involved in China real estate is filing for liquidation, Fantasia Holding Hong Kong.
Post a Comment