Shum Tin-ching, chairman and controlling shareholder of Jiayuan International, at the company’s results briefing in March 2019. Photo: Dickson Lee
Chinese builder of Hong Kong nano flats sinks as debt burden feeds US$1.9 billion stock sell-off
- Stock slumped on resumption of trading in Hong Kong despite steps taken by the developer to meet its offshore bond obligations
- Debt rating slashed by Moody’s this month on refinancing risk, citing weakening liquidity and amount of debt coming due over the next 12 to 18 months
Shum Tin-ching, chairman and controlling shareholder of Jiayuan International, at the company’s results briefing in March 2019. Photo: Dickson Lee
