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China Evergrande hits 4-1/2-year low after co cancels special dividend proposal

Reuters2021-07-27

** Shares of China Evergrande Group fall 11.9% to HK$5.91, their lowest since March 2017, and on course for a third straight session of losses

** Stock is second-biggest percentage decliner in the Hang Seng China Enterprises Index and the seventh-biggest percentage decliner in the Hang Seng Composite Index

** China's most indebted property developer said on Tuesday it would cancel a special dividend proposal, citing the current market environment, the rights of shareholders and creditors, and the long-term development of its various businesses

** Shares of its unit Evergrande Property Services fall 4% to HK$5.55, their lowest since listing on Dec 2, 2020

** China Evergrande New Energy Vehicle drops 6.3% to HK$11.80, the lowest since July 3, 2020

** The Hang Seng Composite Index falls 1.2%, while the Hang Seng sub-index, tracking property firms , gains 0.3%

** The Hang Seng China Enterprises Index slides 1.5%, and the benchmark index slips 1%

** As of last close, China Evergrande down 55% this year

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Comment8

  • Winyss10
    ·2021-07-27
    5 minutes ago
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  • S071
    ·2021-07-27
    ?
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  • claire0215
    ·2021-07-27
    What is this?
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  • MikeSeah
    ·2021-07-27
    Oops
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    • MikeSeah
      Oops
      2021-07-27
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  • fatpistachio
    ·2021-07-27
    Never ending slump
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  • tx03
    ·2021-07-27
    Oops
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    • tx03
      Oops
      2021-07-27
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  • To the mooon
    ·2021-07-27
    Like commend 
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  • tig2021
    ·2021-07-27
    All china shares are dropping like s***
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    • Fanshuu
      No S****! ?
      2021-07-27
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