FILE PHOTO: The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song/File Photo
December 7, 2021
HONG KONG (Reuters) – Shares of China Evergrande Group were set to rise 6.6% on Tuesday as the embattled developer moves closer toward a restructuring that has loomed for months over global markets and the world’s second-largest economy.
Evergrande’s stock, which hit a record low on Monday, was set to open up at HK$1.93.
The world’s most indebted developer said on Monday it had set up a risk management committee that included officials from state entities which would play an important role in “mitigating and eliminating the future risks” of the group.
(Reporting By Clare Jim; Editing by Anne Marie Roantree and Himani Sarkar)
Source: One America News Network
