Delisting Evergrande from Chinese stock exchange

Evergrande was the world’s most heavily indebted real estate developer, with $300 billion owed to banks and bondholders, when the court handed down a liquidation order in January 2024.China Evergrande Group received a letter Aug. 8 from the city’s stock exchange notifying the firm of its decision to cancel the listing as trading had not resumed by Jul. 28. The last day of the listing will be Aug. 22 and Evergrande will not apply for a review of the decision, the company said in a statement.China Evergrande on Tuesday said it will be delisted from Hong Kong’s stock exchange on Aug. 25, more than a year and a half after the city’s court ordered the heavily indebted real estate developer to be liquidated in another setback to mainland China’s property sector. Is Chinese real easte collapsing ?