-
Trading of Chinese property developer Kaisa shares halted in Hong Kong
Trading in shares of Chinese real estate developer Kaisa was halted Wednesday for the second time in two months, as troubles in China’s property sector resurfaced this week. The developer had been snowed under by debt issues, as it struggled to make repayments recently. It looked unlikely that it met its $400 million offshore debt deadline on Tuesday, according to Reuters. Kaisa halted trading in early November for nearly three weeks, following news that it had missed a payment on a wealth management product. There was no immediate reason given for the latest trading halt. Kaisa had said in late November that it would restructure offshore debt payments due in…
-
Kaisa Group, another Chinese real estate developer, is in serious trouble
Shares of Kaisa Team, a Shenzhen-dependent developer, have been suspended from trading on Friday in Hong Kong. The company’s subsidiaries, which were also halted from investing, cited a “pending” announcement about the group in stock trade filings. Whilst Kaisa did not disclose additional aspects for the motive behind the suspension, it experienced explained the past working day that it was struggling with “unprecedented pressure” on its funds. Chinese condition-run economical newspaper Securities Instances reported Thursday that the organization advised the outlet about its liquidity problems, and admitted to lacking a payment linked to its prosperity management merchandise. Kaisa did not promptly answer to a request for further more comment. According…