Evergrande: Chinese property giant delisted after spectacular fall
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Chinese property giant Evergrande's shares were taken off the Hong Kong stock market on Monday after more than a decade and a half of trading.
It marks a grim milestone for what was once China's biggest real estate firm, with a stock market valuation of more than $50bn (£37.1bn). That was before its spectacular collapse under the weight of the huge debts that had powered its meteoric rise.
Experts say the delisting was both inevitable and final.
"Once delisted, there is no coming back," says Dan Wang, China director at political risk consultancy Eurasia Group.
Evergrande is now best-known for its part in a crisis that has for years dragged on the world's second-largest economy.
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Chinese property giant Evergrande's shares were taken off the Hong Kong stock market on Monday after more than a decade and a half of trading.
It marks a grim milestone for what was once China's biggest real estate firm, with a stock market valuation of more than $50bn (£37.1bn). That was before its spectacular collapse under the weight of the huge debts that had powered its meteoric rise.
Experts say the delisting was both inevitable and final.
"Once delisted, there is no coming back," says Dan Wang, China director at political risk consultancy Eurasia Group.
Evergrande is now best-known for its part in a crisis that has for years dragged on the world's second-largest economy.
What are the consequences of this?
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What are the consequences of this?
You can no longer dump your worthless stock.
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Chinese property giant Evergrande's shares were taken off the Hong Kong stock market on Monday after more than a decade and a half of trading.
It marks a grim milestone for what was once China's biggest real estate firm, with a stock market valuation of more than $50bn (£37.1bn). That was before its spectacular collapse under the weight of the huge debts that had powered its meteoric rise.
Experts say the delisting was both inevitable and final.
"Once delisted, there is no coming back," says Dan Wang, China director at political risk consultancy Eurasia Group.
Evergrande is now best-known for its part in a crisis that has for years dragged on the world's second-largest economy.
This only seems bad if you're drinking the capitalist Kool aid. Does this really matter at the end of the day?
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What are the consequences of this?
Typically this sort of stuff is the tip of the iceberg, especially in places where bad news that makes leaders look like idiots are suppressed. I wouldn't be surprised if this was the sort of 2007 event that got 2008 rolling.
Aside from potentially rawdogging a massive economic meltdown based on extremely shaky loans, market speculation and corruption, building a lot of half built buildings is also terrible for the environment now that they are occupying lands that used to be habitat. Some people probably bought places that will also never be finished, now.
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Typically this sort of stuff is the tip of the iceberg, especially in places where bad news that makes leaders look like idiots are suppressed. I wouldn't be surprised if this was the sort of 2007 event that got 2008 rolling.
Aside from potentially rawdogging a massive economic meltdown based on extremely shaky loans, market speculation and corruption, building a lot of half built buildings is also terrible for the environment now that they are occupying lands that used to be habitat. Some people probably bought places that will also never be finished, now.
Ok. Now how do I get rich off of this?
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Chinese property giant Evergrande's shares were taken off the Hong Kong stock market on Monday after more than a decade and a half of trading.
It marks a grim milestone for what was once China's biggest real estate firm, with a stock market valuation of more than $50bn (£37.1bn). That was before its spectacular collapse under the weight of the huge debts that had powered its meteoric rise.
Experts say the delisting was both inevitable and final.
"Once delisted, there is no coming back," says Dan Wang, China director at political risk consultancy Eurasia Group.
Evergrande is now best-known for its part in a crisis that has for years dragged on the world's second-largest economy.
... meteoritic rise...
No, they don't. Meteorites fall to the ground while vaporizing themselves. Like Evergrande it seems.
