HONG KONG — Trading in shares of heavily indebted Chinese property developer China Evergrande Group was suspended in Hong Kong on Thursday, according to a notice on the Hong Kong stock exchange.
China Evergrande said in a notice on Thursday night that authorities had informed the firm that its chairman, Hui Ka Yan, had been subjected to “mandatory measures in accordance with the law due to suspicion of illegal crimes" and said that trading in the firm's shares was suspended until further no -- China Evergrande Group and its units suspended trading in Hong Kong, a day after people familiar with the matter said the property giant’s founder had been taken away by police.
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