A Hong Kong developer plans to quit the stock market as Evergrande fallout spreads. Its shares had plunged as much as 44% this year to their lowest level in nearly two decades.
Hong Kong Chinese Estates Holdings plans to go private after its stock was slammed by fallout from the crisis at Evergrande.
The Hong Kong developer had seen its shares plunge as much as 44% this year to their lowest level in nearly two decades as Evergrande teetered on the edge of collapse. Chinese Estates is the second largest shareholder in Evergrande after founder and chairman Xu Jiayin.
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