{"id":4272,"date":"2023-08-28T12:14:59","date_gmt":"2023-08-28T10:14:59","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=4272"},"modified":"2023-08-28T12:14:59","modified_gmt":"2023-08-28T10:14:59","slug":"evergrande-loses-2-billion-in-value-as-trade-resumes","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=4272","title":{"rendered":"Evergrande loses $2 billion in value as trade resumes"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">China&#8217;s Evergrande Group lost about $2 billion, or 80% of its market value, on Monday after trading of its shares resumed, a decisive move for the world&#8217;s most indebted company as it seeks to restructure its offshore debt.<\/p>\n<p>Evergrande is at the center of a crisis in China&#8217;s real estate sector, which has seen a string of defaults since late 2021 and its shares have been in limbo for 17 months. Evergrande would have faced delisting if the suspension had reached 18 months.<\/p>\n<p>The developer is in the process of obtaining approvals from creditors and the courts to implement a debt restructuring plan.<\/p>\n<p>Approval of the Evergrande plan requires the vote in favor of more than 75% of the holders of each class of debentures. The plan offers creditors a range of options to exchange debentures for new bonds and equity-linked instruments secured by shares in the company and its Hong Kong-registered subsidiaries.<\/p>\n<p>Evergrande said its ability to continue operating will depend on the successful implementation of this offshore debt restructuring plan and successful negotiations with its remaining creditors to extend payment terms.<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s Evergrande Group lost about $2 billion, or 80% of its market value, on Monday after trading of its shares resumed, a decisive move for the world&#8217;s most indebted company as it seeks to restructure its offshore debt. Evergrande is at the center of a crisis in China&#8217;s real estate sector, which has seen a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4272"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4272\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/4273"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}