Shares of Kaisa Prosperity slide as buying and selling in Kaisa models resumes By Reuters


© Reuters. FILE PHOTO: A picture shows the Kaisa Plaza of Kaisa Group Holdings Ltd on a hazy day in Beijing, China, November 5, 2021. REUTERS / Thomas Peter / File Photo

HONG KONG (Reuters) – Shares in Kaisa Prosperity, a real estate services unit of contested Chinese developer Kaisa Group, fell 10% on Tuesday as trading resumed for the first time since November 5.

Trading with the Kaisa Group and its three entities has been suspended due to “inside information” about the company. Since then, investor concerns about Kaisa Group’s liquidity have only grown and trading with the parent company has remained on hold.

Kaisa Prosperity and two other entities announced in separate filings late Monday that their business operations are normal, adding that they have not received any financial assistance from the parent company, so any liquidity issues their parent company is facing will not have a material negative impact would have on their operations.

Kaisa Health, which is focused on dental prosthetics and healthcare, rose 30% when trading resumed, while Kaisa Capital was flat.

Kaisa Group has the most offshore debt of any Chinese developer after China Evergrande Group and has separately asked for help from creditors, saying it will not pay interim dividends last week.

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price, meaning that prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data.

Fusion Media or any other person involved in Fusion Media assumes no liability for any loss or damage that may arise from reliance on the information contained on this website, including data, prices, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment.

You might also like

Leave A Reply

Your email address will not be published.