The embattled property giant's shares were taken off the Hong Kong stock market on Monday.

Chinese property giant Evergrande’s shares were taken off the Hong Kong stock market on Monday after more than a decade and a half of trading.

It marks a grim milestone for what was once China’s biggest real estate firm, with a stock market valuation of more than $50bn (£37.1bn). That was before its spectacular collapse under the weight of the huge debts that had powered its meteoric rise.

Experts say the delisting was both inevitable and final.

  • Buffalox@lemmy.worldEnglish
    17·
    1 day ago

    Trading in Evergreen was closed already 1½ year ago, when the company entered liquidation.
    So the delisting was inevitable and is not really significant.

    Hong Kong High Court ordered the company to be wound up in January 2024.
    Evergrande’s shares had been under threat of delisting ever since because they were suspended from trading after the court order.

    Wound up means liquidation.

    But yes people and banks have absolutely lost money on this, but the ripple effect started already before the liquidation, it’s been going on for at least 2 years now.
    But for a country of 1.3 billion people, $45 billion is only $35 per capita, so not something that will likely destroy an economy as big as Chinas.