Chinese Developer Sinic to Be Forced Off Hong Kong Bourse

What’s new: Chinese developer Sinic Holdings (Group) Co. Ltd. will get the boot from the Hong Kong Stock Exchange on Thursday as the teetering company has failed to meet the bourse’s requirements for its shares to resume trading following a more than 18-month suspension, the bourse said in a statement.

Trading of Sinic’s shares, which had been set to resume on March 19, were suspended on Sept. 20, 2021 after its stock plunged. The massive sell-off was triggered by the company’s failure to make an interest payment of 38.7 million yuan ($6 million) on two onshore financing arrangements on Sept. 18, which the company attributed to “unexpected liquidity issues” in a later statement.