DEXIN CHINA Aktie

 

Another Chinese Developer Gets Liquidated As Property Bear Market Persists  Asian stocks were mostly red on Tuesday in Hong Kong (Hang Seng -1.04%) and China (CSI300 -.87%) as the Chinese property bear market deepened as Beijing's attempt to stabilize the economy wanes following yet more bad news of developer Dexin China Holdings Co. ordered into liquidation by a Hong Kong court.  Dexin became the latest Chinese developer to be ordered to wind down, three months after a petition was filed by China Construction Bank (Asia) and a year and a half after it defaulted, according to Bloomberg. Even with a new restructuring plan approved last year, the developer, specializing in residential and commercial buildings, couldn't keep up with paying its debts.  The Zhejiang-based developer concentrated most of its residential and commercial buildings across China's wealthy Yangtze River Delta region. As of the latest annual report, it had 64.4 billion yuan ($8.88 billion) in liabilities.  ...

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Dexin China Holdings joins the growing list of troubled Chinese property developers facing liquidation as impatient creditors take them to court in an attempt to claw back their money....

DAS/ DIE FOLGENDE(N) INSTRUMENT(E) IST/ SIND AB SOFORT AUSGESETZT: THE FOLLOWING INSTRUMENT(S) IS/ ARE SUSPENDED WITH IMMEDIATE EFFECT: INSTRUMENT NAME KUERZEL/SHORTCODE ISIN BIS/UNTIL DEXIN CHINA HLD. DL-,0005 26X KYG2751H1020 BAW/UFN...

Instrument ID [6725] (26X - KYG2751H1020) suspended...

Trading in the shares of DEXIN CHINA (02019.HK) has been suspended since 11:35 am. The reason is not yet known. The stock was trading at $0.085, down $0.006, or 6.59%, with 331,000 shares traded and a turnover of $28,400 before the suspension.The Hong Kong High Court ordered the liquidation of DEXIN CHINA this morning. Earlier, ......