Evergrande to Delist in China Housing Crisis Milestone

China Evergrande Group said its Hong Kong stock will be delisted, according to a filing to the Hong Kong bourse on Tuesday. The shares will be removed on Aug. 25 and the Guangzhou-based company won’t apply for a review of the exchange’s decision. Evergrande was once China’s largest developer by sales, and was worth more than $50 billion in 2017 at its peak. Bloomberg's Minmin Low reports.
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