China Evergrande fell 24% on Monday as the group published a statement saying that the company was unable to meet the qualifications for issuing new bonds in the current circumstances and reassessing the restructuring plan.
China Evergrade issued a caution notice that holders of the company’s securities and potential investors of the company are advised to exercise caution when dealing in the securities of the company.
The company has more than $300 billion in total liabilities, including offshore debt. Earlier this year, it announced the restructuring plan of $22.7 billion in offshore debt.
The Hang Seng Index fell 1.41% to 17,803.58 points in the morning session. Meanwhile, the Hang Seng Properties Index dropped 2.08%.
