Why evergrande Is Trending Today?

Evergrande, the Chinese real estate giant, has announced its delisting from the Hong Kong Stock Exchange, following the revelation of $45 billion in debt claims by liquidators. This move comes amidst China's ongoing property crisis, marking a significant milestone. The company, once one of the world's most valuable, has been grappling with massive debts for years, with restructuring ruled out. Despite selling assets like a Monet painting to repay some debts, Evergrande's total debt remains staggering. Four years after the company's financial troubles began, many Chinese families are still stuck in unfinished or 'broken' houses. The delisting caps a dramatic fall for Evergrande, which was once a symbol of China's economic rise.

Evergrande, the world's most indebted property developer, has been removed from the Hong Kong Stock Exchange due to severe debt issues, marking a significant milestone in China's ongoing property crisis. The company, which had amassed over $45 billion in debt, was delisted after failing to address its financial woes, leaving investors with substantial losses. Despite its vast size and influence, Evergrande's assets, including artwork, amounted to a mere $255 million following its default.