Kaisa hits fresh low after saying bondholders have not asked for accelerated repayments

China Aoyuan

20/12/2021 03:10

** Shares of Kaisa Group  1638.HK  fall as much as 11.9% to
HK$0.81, their lowest since December 2009 debut
    ** Stock set for biggest daily percentage drop since Nov. 4;
biggest percentage decliner on the Hang Seng Composite Index on
properties and construction stocks  .HSCIPC , which is down 1.3%
    ** Co says it has not received any notice from bondholders
to accelerate repayments yet as the embattled Chinese property
developer has not repaid a $400 mln offshore bond  urn:newsml:reuters.com:*:nL1N2T40JT
    ** Kaisa says it has not paid coupon totalling $105 mln for
notes due in 2023, 2025, and 2026, with the grace period for the
first two already expired
    ** Says it expects confidence of potential property buyers
to remain subdued in December after significant sales decline in
October and November
    ** Hong Kong-listed rivals Shimao Group  0813.HK , SUNAC
 1918.HK , Guangzhou R&F Properties  2777.HK , KWG Group
 1813.HK  and China Aoyuan  3883.HK  fall between 3.1% and 9.1% 
    ** Hang Seng Mainland Properties Index  .HSMPI  drops 1.8%,
and the benchmark index  .HSI  slips 1% 
    ** Stock of Kaisa Group had dropped 75.3% this year, as of
last close 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))