Hui Ka-yan, the chairman of China Evergrande Group. He controlled 70.8 per cent of the company’s shares as of December 31 last year. Photo: David Wong Hui Ka-yan, the chairman of China Evergrande Group. He controlled 70.8 per cent of the company’s shares as of December 31 last year. Photo: David Wong
Hui Ka-yan, the chairman of China Evergrande Group. He controlled 70.8 per cent of the company’s shares as of December 31 last year. Photo: David Wong

Evergrande reneges on special dividend two weeks after pledging it, in a surprise U-turn that sends shares, bonds crashing

  • Evergrande decides to forego a special payout announced on July 15, according to a surprise filing to the Hong Kong stock exchange
  • Shares of the developer closed 13.4 per cent lower at HK$5.70, extending the 48 per cent plunge from their January high

Topic |   China property
Hui Ka-yan, the chairman of China Evergrande Group. He controlled 70.8 per cent of the company’s shares as of December 31 last year. Photo: David Wong Hui Ka-yan, the chairman of China Evergrande Group. He controlled 70.8 per cent of the company’s shares as of December 31 last year. Photo: David Wong
Hui Ka-yan, the chairman of China Evergrande Group. He controlled 70.8 per cent of the company’s shares as of December 31 last year. Photo: David Wong
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