Dec 04, 2021 06:53 PM

Shares of Developer Aoyuan Tumble After Creditors Demand $650 Million

What’s new: Hong Kong-listed shares of China Aoyuan Group Ltd. closed down 11% on Friday, a day after the real estate developer said that its creditors had demanded repayment of $651.2 million.

In a stock filing Thursday, Aoyuan attributed the demand to a series of ratings downgrades, warning shareholders that it may be unable to repay its debts due to liquidity issues.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code