- cross-posted to:
- world@lemmy.world
- cross-posted to:
- world@lemmy.world
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.
Sounds like profit to me, houses and buildings got built, rent and housing prices are going down. Sucks for the megacorp though.