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China Evergrande (03333) “Back to A” in the deep house backdoor has failed. Evergrande made an announcement stating that on November 8, 2020 it has decided to end the restructuring plan with Shenzhen Shenzhen Real Estate. Evergrande stressed that the termination of the reorganization will not cause financial pressure on Evergrande. 122 billion of the 130 billion in strategic investments have chosen to continue to hold Evergrande shares, showing full confidence in Evergrande’s development prospects. In response to this newspaper’s question, Evergrande pointed out that the details of the deal and buyback will be announced in the near future.
Evergrande said that among the 130 billion strategic investors (RMB, same below), 86.3 billion strategic investors have previously signed supplementary agreements, agreeing not to request repurchase and continue to hold shares in Evergrande Real Estate; 35.7 billion strategic investors have also Upon completion of the negotiation, an additional agreement will be signed. The 5 billion strategic investors are trading due to asset restructuring involving their major shareholders. The remaining 3 billion strategic investors of the core group have been paid and will soon be repurchased.
Evergrande sold a building on the 38th to gross a record high of RMB 141.6 billion, see[Pagina successiva]for details
Evergrande previously reported financial difficulties and asked the Guangdong government for help. For details, see[Pagina successiva]
Shenshen Real Estate has also issued an announcement stating that due to the current market environment and other reasons, the conditions to continue to promote major asset restructuring are not yet ripe at this stage. In order to effectively safeguard the interests of the company and all shareholders, the company carefully studied It decided to terminate the transaction. Negotiations at Shenzhen Housing will resume on Monday (November 9).
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Publisher: Yuan Nuoxi
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