China’s Zhenro Properties shares, bonds plunge

This advertisement has not loaded yet, but your article continues below. Author of the article: Article content 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…
China’s Zhenro Properties shares, bonds plunge

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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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