Embattled Chinese property giant Evergrande’s plans to offload half of its property services unit have fallen through, sending shares tumbling 14 per cent.
The deal, which would have raised
The company claims to have built homes for around 12m people in
Concerns over whether Evergrande’s collapse could ripple throughout China’s economy has prompted debt-laden peers to be hit with ratings downgrades.
The developer has missed several bond repayment deadlines in recent weeks, with little update on whether it will make payments within the formal deadline before its debts are classified as in default.
In a bid to find funds to pay its lenders and suppliers, it has scrambling to offload parts of its sprawling business.
In a filing published today,
The post
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