Shares of Kaisa Prosperity slide as trading in Kaisa units resumes (updated)

Kaisa Prosperity Holdings

16/11/2021 02:36

(Updates shares, adds details, background)
    HONG KONG, Nov 16 (Reuters) - Shares in Kaisa Prosperity
 2168.HK , a property services unit of embattled Chinese
developer Kaisa Group  1638.HK , tumbled 10% on Tuesday as
trading resumed for the first time since Nov. 5.
   Trading in Kaisa Group and its three units was suspended
pending "inside information" from the company. Since then,
investor concerns about Kaisa Group's liquidity have only
intensified and trade in the parent company remains suspended.
    Kaisa Prosperity and two other units said in separate
filings late on Monday their business operations are normal,
adding that they haven't not received any financial assistance
from the parent company so any liquidity issues faced by their
parent company would not have any material adverse impact on
their operations.
    Kaisa Health  0876.HK , which focuses on dental prosthetics
and healthcare, rose 30% as trading resumed while Kaisa Capital
 0936.HK  was trading flat.
    Kaisa Group has the most offshore debt of any Chinese
developer after China Evergrande Group  3333.HK , and it
separately pleaded for help from creditors and said it will not
pay interim dividends last week.

 (Reporting by Anne Marie Roantree and Clare Jim; Editing by Kim
Coghill and Edwina Gibbs)
 ((annemarie.roantree@thomsonreuters.com; +852 97387151; Reuters
Messaging: annemarie.roantree.thomsonreuters.com@reuters.net))