Overview

• The Hong Kong Stock Exchange removed Evergrande at the market open after the company failed to meet the exchange's deadline for resuming trade.
• Trading had been suspended since January 29, 2024, when a Hong Kong court ordered the company's liquidation following a petition by foreign creditors.
• Evergrande accumulated roughly $300 billion in liabilities and slipped into insolvency in 2021, leaving more than 1,000 projects unfinished and many prepaid buyers affected.
• The delisting ends about 15 years on the public market and marks the company's descent from a flagship builder to a symbol of China's real-estate slump.
• Tighter leverage rules introduced in 2020 curtailed developers' borrowing, and chairman Hui Ka Yan received a lifetime ban from stock trading in China in March 2024.