Vietnam.vn - Nền tảng quảng bá Việt Nam

Evergrande Chairman Loses 98% of His Assets, at Risk of Going "Prime"

Báo Dân tríBáo Dân trí25/10/2023


According to the Bloomberg Billionaires Index , the assets of Mr. Xu Ka-yin, founder of Chinese real estate group Evergrande, are now only 979 million USD. The reason is that the company's shares have fallen 86% since trading resumed at the end of August.

His assets are attracting special attention from creditors as they seek to limit losses from one of China's biggest bankruptcies.

The Evergrande chairman was China’s second-richest man in 2017, with a fortune of $42 billion. His fortune has since fallen by 98%. He is also under investigation by Chinese authorities for suspected illegal activities.

Chủ tịch Evergrande mất 98% tài sản, có nguy cơ trắng tay - 1

The assets of the founder of Chinese real estate group Evergrande are now only 979 million USD (Photo: Forbes).

He had to sell his company shares and personal assets, including artwork and calligraphy, when the Chinese government refused to bail out Evergrande. Last year, he is said to have sold another villa worth more than $200 million in London (UK).

Once China's top real estate developer, Evergrande is now known as the world's most indebted company, with debts of more than $300 billion.

The investigation into its chairman has further complicated Evergrande’s restructuring plans. If it fails to restructure its debt, Evergrande may be forced to liquidate its assets. A Hong Kong court will make a decision on the matter on October 30.

If the sale order is carried out, the authorities will convert Evergrande's assets into cash for the benefit of all creditors, according to Jonathan Leitch, a specialist at law firm Hogan Lovells.



Source

Comment (0)

No data
No data
S-300PMU1 missiles on combat duty to protect Hanoi's sky
Lotus blooming season attracts tourists to the majestic mountains and rivers of Ninh Binh
Cu Lao Mai Nha: Where wildness, majesty and peace blend together
Hanoi is strange before storm Wipha makes landfall
Lost in the wild world at the bird garden in Ninh Binh
Pu Luong terraced fields in the pouring water season are breathtakingly beautiful
Asphalt carpets 'sprint' on North-South highway through Gia Lai
PIECES of HUE - Pieces of Hue
Magical scene on the 'upside down bowl' tea hill in Phu Tho
3 islands in the Central region are likened to Maldives, attracting tourists in the summer

Heritage

Figure

Business

No videos available

News

Political System

Local

Product