Trading of shares belonging to China Evergrande and two listed subsidiaries – China Evergrande New Energy Vehicle Group and Evergrande Property Services Group – has been suspended in Hong Kong, according to exchange filings. During the last time trading of Evergrande shares was suspended, there was a 17-month hiatus from March 2022 to August 2023.

The suspension follows a «Bloomberg» report yesterday that claims Evergrande chairman Hui Ka Yan was taken away by police earlier this month and placed under surveillance at a designated location.

Meanwhile, the world’s most indebted property developer is still attempting to grapple with $300 billion in liabilities. According to a «Reuters» report on Tuesday, a major offshore creditor group plans to join a liquidation court petition filed against Evergrande if it does not submit a new debt restructuring proposal by the end of October.