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Message Board > Evergrande Shares fall the hardest in 11 years aft
Evergrande Shares fall the hardest in 11 years aft
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Jan 13, 2022
9:07 PM

After EvergrandeSLOTXOcame out to admit that There is not enough funds to pay off debts that are due today. It appears that the company's share price has fallen to its lowest level in 11 years.

On December 6, 2021, Channel News Asia reported that China Evergrande Group's shares fell 12 percent, their lowest level in 11 years, after the company admitted it did not have enough funds to pay off its debts. causing the Chinese authorities to call the company president immediately

Shares of major real estate giants tumble After a 30-day grace period to repay the $82.5 million (approximately 2,800 million baht) debentures due today (6 Dec).

Evergrande which was once the top selling real estate developer in China It is battling a huge debt of more than 300 billion US dollars (about 100 trillion baht), and if this company goes bankrupt, it will affect the real estate sector. and other Chinese business sectors

In a filing with the Hong Kong Stock Exchange on Friday Evergrande The most indebted property developers in the world also revealed that The company was asked by creditors to pay approximately $260 million (approximately 8,800 million baht).

Local government of Guangdong Province Where the company is located, Hui Cayan, or Xu Jiayin, was summoned, the company's chairman, and later the Guangdong provincial government said in a statement. A working group will be sent to Evergrand to oversee risk management. strengthen internal control and support operations to be normal At the request of Evergrande

The People's Bank of China later released a statement saying: Banking and Insurance Regulators including the China Securities Regulatory Commission trying to reassure the stock market that All risks to the wider real estate sector has been controlled

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