DJ Shenzhen Real Estate Surges After Trading Resumed -- Market Talk
0658 GMT - Shenzhen Special Economic Zone Real Estate and Properties Group Co., a Chinese state-owned property developer, surged by the daily upward limit of 10% in Shenzhen to CNY11.9 by early Monday afternoon, as the stock resumed trading after a four-year suspension. Trading of the company was halted in September 2016 after it was picked as a backdoor-listing vehicle by one of China's biggest developers, China Evergrande Group, to float a crucial business unit. The listing plan was stuck after China's regulators tightened fundraising by property developers. Evergrande announced the deal was terminated via a filing on Sunday night. (yu.xie@wsj.com)
(END) Dow Jones Newswires
November 09, 2020 01:58 ET (06:58 GMT)
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