China Evergrande Shares Delist Hong Kong Amid Liquidation

China Evergrande Group, once the largest real estate developer in China, will be delisted from the Hong Kong Stock Exchange on August 25 following a decision by the exchange's listing committee due to its failure to resume trading. The company has been in liquidation since January 2024 after a Hong Kong court issued a winding-up order because Evergrande failed to propose a viable debt repayment plan to its creditors. Evergrande's shares have been suspended since the court ruling, and the firm will not seek a review of the delisting decision. Liquidators have reported selling about $255 million in assets and managing over 100 subsidiaries, but the total debt burden is larger than previously estimated, with claims reaching approximately HK$350 billion (around $45 billion). The company's collapse is a key symbol of the ongoing crisis in China's property market, which has significantly impacted the broader Chinese economy and financial systems globally. Trading of Evergrande shares will cease, and while share certificates remain valid, they will no longer be tradable on the Hong Kong exchange.