China's Shimao drops 15% after developer receives liquidation petition

Shimao group

13/01/2025 01:31

HONG KONG, Jan 13 (Reuters) - Shares of China's Shimao
Group  0813.HK  dropped 15% to HK$0.73 on Monday, their lowest
since Sept. 26, after the property developer received a
liquidation petition. 
    Shimao said on Friday CPYM Link Investment had filed a
liquidation petition against the company in the Hong Kong high
court regarding a 258 million yuan ($35.2 million) cross-border
loan guarantee provided by the property developer. 
 
    ($1 = 7.3308 yuan)

 (Reporting by Hong Kong newsroom; Editing by Tom Hogue)
 ((donny.kwok@thomsonreuters.com; +852 3462 7745;))