Category: evergrande

The founder of Chinese property developer Evergrande — who was once Asia’s second-richest person — is no longer a billionaire

China Evergrande founder Hui Ka Yan. Bobby Yip/Reuters China Evergrande founder’s fortune plunged to $979 million, from its peak of $42 billion in 2017. The wealth plunge follows a tumble in Evergrande’s share price. Once China’s second-largest property developer, Evergrande has been mired in a debt crisis since 2021. Hui Ka Yan, the founder and chairman of embattled Chinese property developer Evergrande, was once Asia’s…

Trading in China Evergrande shares suspended again just a month after they returned from a 17-month hiatus

Aerial photo shows a residential area of Evergrande in Nanjing, East China’s Jiangsu province, Aug 28, 2023. On August 28, 2023. Costfoto/NurPhoto/Getty Images Trading in property developer China Evergrande Group shares was suspended in Hong Kong on Thursday. China Evergrande shares had resumed trading on August 28 after a 17-month hiatus. Bloomberg reported Wednesday that Hui Ka Yan, Evergrande’s chairman, has been placed under police watch….