Evergrande seeks to resume trading in Hong Kong, ending 17-month halt after claiming it met all seven conditions imposed by exchange

Developer has sufficient business operations, is trying its utmost to deliver properties, it says in filing

Evergrande continues to face winding-up petitions in Hong Kong, the Cayman Islands and the British Virgin Islands

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Residential buildings developed by China Evergrande Group in Beijing. The developer had land reserves of 190 million square metres, as of June, according to exchange filings. Photo: Bloomberg

Published: 9:00pm, 27 Aug 2023Updated: 10:01pm, 27 Aug 2023

China Evergrande Group, the world’s most indebted property developer, has sought the resumption of trading in its shares on the Hong Kong stock exchange on Monday.

In a filing with the exchange on Friday night, Evergrande said it had fulfilled all seven conditions to rescind an order suspending trading in its shares since March 21 last year.

“The company has sufficient business operations,” Evergrande said in the filing. “The company places priority on stabilising operations and resolving risks, and pushes forward with utmost efforts in ensuring the delivery of properties.

“With the understanding and support of local governments, upstream and downstream enterprises and property owners, the group resumed work on 732 projects to ensure the delivery of properties, and delivered in aggregate 301,000 units in 2022.”

The developer still faces winding-up petitions in courts in Hong Kong, the Cayman Islands and the British Virgin Islands, but Evergrande said it has “been actively pursuing legal measures to resolutely oppose” these and is “taking all necessary actions to protect its legal rights”.

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