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Country Garden is now the Hong Kong equivalent of a penny stock, trading below one Hong Kong dollar ($0.13) for over a week. Shares have lost over 70% of their value since the beginning of the year.
In January 2023 the stock price had been HK$3.24 (equivalent to 41 U.S. cents). As the end of July 2023 approached, the company's share value had ebbed significantly, bottoming out at HK$1.58. [39] On August 7, 2023, Country Garden had two bond coupons denominated in U.S. dollars (approximately $22.5 million) that had expired and had not yet ...
Country Garden’s inability to meet a deadline of March 31 to post earnings means its stock is likely to be suspended from trading Tuesday under Hong Kong’s stock exchange rules.
Country Garden has nearly $200 billion in total liabilities. It faces mounting pressure to pay off its debts — it has about 31 billion yuan ($4.3 billion) in bonds set to mature through the end ...
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Country Garden was the largest private property developer in China. Its loss was expected to be in the range of 45 billion yuan (US$6.25 billion) to 55 billion yuan, after a net profit of around 1.91 billion yuan in the same period in 2022. [ 72 ]
Country Garden said Thursday that it would sell a stake in China's largest operator of shopping malls worth about $428 million. In a stock filing, the developer said the proceeds would help with ...
One of the largest Chinese real estate companies, Country Garden defaulted on $11 billion in offshore bonds in 2023 and said earlier this month that its debt restructuring proposal would reduce ...