Sep 29, 2022 07:30 PM

Investors Dump Developer CIFI’s Stock on News of Missed Financial Payment

What’s new: Chinese property developer CIFI Holdings (Group) Co. Ltd. saw its Hong Kong stock plummet 16.3% to HK$0.72 (9 U.S. cents) apiece on Thursday, extending double-digit losses the day before, even after the firm announced it was resolving a missed payment to a trust fund and had paid interest on an offshore bond.

News broke Wednesday that the company had problems with an equity investment trust product, which sent its share price tumbling 32.3% through to the close.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
Caixin-Sinica Business Brief: China Mourns Death of Former President Jiang Zemin