Caixin
Nov 19, 2021 06:24 AM
ECONOMY

Shinsun Says Developer Has Not Defaulted After Shares Plunge

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What’s new: The board of Chinese developer Shinsun Holdings Group assured the market that the company is operating normally and has not defaulted on debt after the company’s stock was hit by an abrupt sell-off.

Hong Kong-traded shares of Shinsun took a nosedive of nearly 54% during trading Thursday, its biggest single-day drop. Shinsun finished the day at HK$1.59 ($0.20), compared with the HK$ 5.59 offering price when it debuted in November 2020.

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