Hong Kong, May 10 (Archyde.com) -China’s real estate development giant China Evergrande Group rose sharply on the Hong Kong stock market on May 10.While Chairman Xu Jiayin announced that he would fully resume housing construction in order to repay debt, he said he would not sell assets.
Evergrande shares at one point 7.2% rise to a high since 1/25 1.79 Hong Kong dollars.
According to officials and some reports, Chairman Xu insisted at an internal meeting on the 6th that fully resuming construction work and sales activities is the way to eliminate debt, not to throw assets.He stated that he aims to resume construction activities 100% within this month, and set a target of 60 million homes to be handed over to apartment complexes.
Evergrande, which had a huge debt, began to slow payments to traders and creditors from 6 months last year, and housing construction was suspended or sued.
According to a document for the exchange on the 9th, Xia Haijun CEO, from 7/27 to 8/17 of the time when the debt problem began to become serious, the evergrande bonds held at a face value of 1 dollar per 0.３５８８─０．It was sold for $5238 and sold for $12,800.
Evergrande bonds 10, 0.It is traded at around $15.
