Evergrande shares plummet after debt warning

Evergrande’s stock closed down 20% at 1.81 Hong Kong dollars ($0.23), the lowest since it listed in Hong Kong in 2009. It has lost 87% of its value since the start of the year. The company, which has about $300 billion in total liabilities, warned late Friday it might not have enough funds to meet its financial obligations. It faces an immediate test of its ability to repay creditors on Monday with the expiry of a 30-day grace period on interest payments on its dollar-denomnated bonds.”In light of the current liquidity status … there is no guarantee that the group will have sufficient funds to continue to perform its

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Evergrande shares plummet after debt warning

Evergrande's stock closed down 20% at 1.81 Hong Kong dollars ($0.23), the lowest since it listed in Hong Kong in 2009. It has lost...