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Top related persons:
Aly - 1 Evergrande - 1 Roushni Nair - 1 Pooja Desai - 1
Top related locs:
China Shenzhen Guangdong province Prism Hong Kong Shanghai U.S United States Bengaluru
Top related orgs:
China Evergrande Group - 1 REUTERS - 1 China Evergrande - 1 HK - 1 Hong Kong Stock Exchange - 1 Prism - 1 Shanghai Ltd - 1 PricewaterhouseCoopers - 1

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4 mentions found


☆ China Evergrande says resumption guidance fulfilled, shares set to trade next week
  + stars: | 2023-08-25 | by ( ) www.reuters.com   time to read: +2 min
Cranes stand at a construction site near the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song Acquire Licensing RightsAug 25 (Reuters) - Embattled property developer China Evergrande Group (3333.HK) said on Friday it has "adequately" fulfilled the resumption guidance issued by the Hong Kong Stock Exchange and made an application to resume trading in shares on Aug. 28. Trading in the company's shares was suspended on March 21 last year after it failed to get back on its feet amid the debt crisis. On the same day, the company's unit, China Evergrande New Energy Vehicle (0708.HK), posted a loss attributable from continuing operations of 5.80 billion yuan ($795.84 million), compared with a loss of 3.87 billion, from a year ago. ($1 = 7.2879 Chinese yuan renminbi)Reporting by Roushni Nair in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.
Persons: Aly, Evergrande, Roushni Nair, Pooja Desai Organizations: China Evergrande Group, REUTERS, China Evergrande, HK, Hong Kong Stock Exchange, Prism, Shanghai Ltd, PricewaterhouseCoopers, Energy, Thomson Locations: China, Shenzhen, Guangdong province, Prism Hong Kong, Shanghai, U.S, United States, Bengaluru
☆ China expands IPO reform to help companies raise capital
  + stars: | 2023-02-01 | by ( ) www.reuters.com   time to read: +3 min
SHANGHAI, Feb 1 (Reuters) - China published draft rules on Wednesday to broaden the registration-based initial public offering (IPO) system, marking a big step towards reforming the world's second-biggest stock market. Expanding the U.S.-style IPO mechanism to all corners of China's stock market will speed up listings and corporate fundraising, as Beijing seeks to revive a COVID-ravaged economy. The fresh reform will also benefit investment banks and private equity funds, though some fear a flood of listings could drain market liquidity. The registration-based IPO system, first adopted by the tech-focused STAR Market, was later rolled out to start-up board ChiNext and the Beijing Stock Exchange. The CSRC will consolidate IPO rules for Shanghai, Shenzhen and Beijing bourses.
☆ China Evergrande's auditor quits on disagreement around 2021 audit-related matters
  + stars: | 2023-01-16 | by ( ) www.reuters.com   time to read: +2 min
Jan 16 (Reuters) - Embattled property developer China Evergrande (3333.HK) on Monday said that its current auditor, PricewaterhouseCoopers (PwC), has resigned as the parties disagreed over the timeline and scope of work surrounding the firm's status as a going concern and other audit-related matters for fiscal 2021. Once China's top-selling developer, Evergrande is now at the centre of the country's property crisis. Its $22.7 billion of offshore debt, including loans and private bonds, is deemed to be in default after it missed payments late last year. In its resignation letter, PwC noted that it had not received information on certain material matters surrounding the group's consolidated financial statements for the year 2021. Last week Reuters reported, citing sources, that the developer will hold a meeting with dollar bondholders to discuss its debt restructuring proposals.
☆ As Xi opens congress, China's state hands keep markets steady
  + stars: | 2022-10-17 | by ( ) www.reuters.com   time to read: +4 min
SHANGHAI, Oct 17 (Reuters) - As Chinese President Xi Jinping opened the landmark Communist Party Congress, the country's vast financial bureaucracy has been busily tamping down ripples of turmoil across its currency and stock markets. Scores of companies have announced share buybacks or executive share purchase plans since Friday, when regulators unveiled plans to ease share buyback rules. Investors and analysts believe government pressure on China's largely state-controlled fund sector may have played a role in the stock market rebound. Xia Chun, chief economist at wealth manager Yintech Investment Holdings, said this follows a pattern of China stocks typically rising before a party congress and then likely falling afterwards. On Monday, several state-controlled asset managers including E Fund Management Co, China Southern Asset Management Co and Zhongtai Securities Asset Management said they were investing their own money to buy products, echoing an identical refrain of confidence in China's capital markets.
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