Mainland housing enterprises in China's Aoyuan plummeted 17%
Chinese property developer Aoyuan Group's shares fall as much as 17%.
Creditors have paid a repayment of $651.2 million due to a slew of rating downgrades, and Aoyuan assessed that it may be unable to pay up due to a liquidity crunch.
Shares of Chinese real estate developer China Aoyuan Hong Kong plummeted 17%.
The company said on Thursday that due to a series of rating downgrades, creditors are demanding repayment of $0.6512 billion and told shareholders that the company may not be able to pay due to tight liquidity.
$CHINA AOYUAN (03883.HK)$
Creditors have paid a repayment of $651.2 million due to a slew of rating downgrades, and Aoyuan assessed that it may be unable to pay up due to a liquidity crunch.
Shares of Chinese real estate developer China Aoyuan Hong Kong plummeted 17%.
The company said on Thursday that due to a series of rating downgrades, creditors are demanding repayment of $0.6512 billion and told shareholders that the company may not be able to pay due to tight liquidity.
$CHINA AOYUAN (03883.HK)$
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