Real Estate

Shares of Evergrande suspended amid reports its chairman under surveillance

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Shares of Evergrande were suspended on Thursday, Hong Kong’s exchange announced. Seen here are residential buildings under construction at the Tao Yuan Tian Jing project, developed by China Evergrande Group, in Yangzhou, China.

Bloomberg | Getty Images

Shares of China Evergrande Group were suspended on Thursday, Hong Kong’s exchange announced.

The chairman of the embattled Chinese real estate developer has reportedly been placed under surveillance, according to Bloomberg News.

Evergrande shares last closed at 32 Hong Kong cents on Wednesday.

This is not the first time that Evergrande’s shares have been suspended. Trading was suspended in March last year and only resumed trading on Aug. 28,…



Source cnbc.com

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