Shares in China Evergrande fell sharply as the company’s stock resumed trading on Thursday after the Chinese real estate developer disclosed that a plan to sell its property services division had collapsed.
Evergrande’s Hong Kong-listed stock fell as much as 13.6 per cent after the end of the two-week suspension, while shares of affiliate Evergrande Property Services, which were also frozen during the same period, dropped as much as 10.2 per cent.
Shares in Evergrande New Energy Vehicle, the developer’s electric vehicle subsidiary, which has traded in Hong Kong without interruption in recent weeks, fell as much as 14 per cent.
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