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SHANGHAI — Shares and bonds of Chinese developer Zhenro Properties fell heavily on Friday before one of the company’s yuan bonds was temporarily suspended from trading.
Its Hong Kong-listed shares were down 66% as of 0647 GMT, while the price of the 2024 yuan bond had dropped over 20%.
Zhenro did not immediately respond to a Reuters request for comment.
Local financial media Cailianshe said Zhenro had denied market speculation it had plans to restructure its dollar bonds, saying it would redeem its $200 million perpetual bond as planned. (Reporting by Jason Xue and Clare Jim; Editing by Himani Sarkar and Neil Fullick)
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