China Evergrande's EV unit at more than 8-yr low as share sale deal halted

Robo.ai

09/10/2023 09:03

** Shares of China Evergrande New Energy Vehicle Group
 0708.HK  fall as much as 10.7% to HK$0.50 in resumed trade on
Monday, lowest since July 2015
    ** The EV arm of embattled property developer China
Evergrande Group  3333.HK  said share sale plan with U.S.-listed
NWTN  NWTN.O  halted amid "significant uncertainties" tied to
Evergrande group
    ** Stock of China Evergrande Group drops as much as 14.3% to
HK$0.27, lowest since Aug. 31; its property services unit
Evergrande Property Services  6666.HK  down 9.1% to record low
of HK$0.50
    ** Hang Seng Mainland Properties Index  .HSMPI  falls 2%,
while Hang Seng Commerce & Industry Index  .HSNC  climbs 0.2%,
and Hang Seng Index  .HSI  gains 0.1%
    ** China Evergrande Group stock dropped 83% YTD, EV unit
fell 84% and property services unit down 77.8%


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