China Evergrande shares fall 79% on first trading day since ban lifted

Developer postpones meeting with creditors over onshore debt to late September

Shares of embattled real estate developer China Evergrande Group resumed trading in Hong Kong on Aug. 28 after more than 17 months of suspension. © Getty Images

KENJI KAWASE, Nikkei Asia chief business news correspondent

August 27, 2023 21:18 JST

Updated on August 28, 2023 18:14 JST

HONG KONG -- China Evergrande Group shares plunged 79% on Monday, their first trading day following a suspension of more than 17 months.

Shares in the embattled real estate developer opened 87% lower and ended the day at 0.35 Hong Kong dollars. Trading had been halted since March 21, 2022, when shares were priced at HK$1.65. Evergrande was the most traded stock in Hong Kong on Monday, with about 1.85 billion shares changing hands.