HONG KONG -- The board of China Evergrande Group decided Tuesday to abandon a plan to declare a special dividend after a backlash from investors and banks, sending shares in the world's most indebted developer sharply lower.
China debt crunch
China Evergrande cancels plan for special dividend
Developer cites 'current market environment' and creditors' rights
Shares of China Evergrande fell below HK$6 to a four-year low on Tuesday. © Reuters
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