HONG KONG -- The Hong Kong-listed shares of midsize mainland Chinese developer Zhenro Properties Group plunged over 80% at their lowest Friday as concerns grew over the company's heavy debt load.
The Shanghai-based house builder was the fourth-largest issuer of junk bonds across the Asia-Pacific region in 2021, according to Moody's Investors Service. It issued over $1 billion, trailing only peers Kaisa Group Holdings and Sunac China Holdings as well as Studio City Finance, a unit of a Macao casino operator.
