Evergrande Property Halts Share Sale Negotiations, Stock Plunges 27% in Afternoon Trading

According to an announcement on June 25, Evergrande Property (06666) share sale negotiations between China Evergrande, CEG Holdings and potential buyers have terminated, with no binding purchase agreement reached. The stock plunged 27.4% in afternoon trading, hitting a low of 0.74 HKD before recovering slightly to 0.85 HKD (down 16.7%) by 1:27 p.m., with trading volume of 82.7 million shares.

The liquidator is actively consulting with financial advisors to seek alternative buyers for the controlling stake held by China Evergrande and CEG Holdings.