Property News · November 16, 2021

Shares of Kaisa units tumble in Hong Kong even as they distance themselves from the travails of their indebted parent


The shares of two units of China’s Kaisa Group plunged to multi-year lows in Hong Kong after emerging from a seven-day trading halt, even as they tried to draw a distance from their embattled parent, which has missed payments on an offshore bond and high-yielding financial products.Kaisa Prosperity Holdings retraced 10.6 per cent to HK$13.50 as the management services unit clawed back some of its 16.6 per cent plunge, the biggest intraday drop since its 2019 initial public offering. Kaisa…

Source : South China Morning Post
Read more…Shares of Kaisa units tumble in Hong Kong even as they distance themselves from the travails of their indebted parent

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