Trading in China Evergrande shares, onshore bonds suspended pending announcement by company

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Trading was also halted in shares of China Evergrande’s property services unit and electric vehicle unit, exchange filings showed

Shares of embattled property developer China Evergrande Group and onshore bonds issued by its flagship unit Hengda Real Estate Group were suspended from trading on Monday, pending an announcement by the company.

Hengda secured approval from its onshore bondholders over the weekend to delay a coupon payment due last September to September 2022, according to a filing by the company’s lawyer to the Shenzhen Stock Exchange on Sunday. Evergrande has so far avoided technical bond defaults onshore, though it has missed payments on some offshore bonds.

 

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