Kaisa shares up af­ter trad­ing re­sumes

New Straits Times - - Business World -

SHANG­HAI: Kaisa Group Hold­ings Ltd, the first and only Chi­nese prop­erty devel­oper to de­fault on its overseas debt, surged by a record 85 per cent in Hong Kong af­ter trad­ing re­sumed from a two-year sus­pen­sion. Kaisa re­leased its long-over­due re­sults yes­ter­day, the fi­nal con­di­tion it needed to meet to ap­ply to lift its trad­ing sus­pen­sion. The shares surged al­most 80 per cent to HK$2.80 at 9.38am in Hong Kong. Kaisa shares fell 53 per cent in the months lead­ing up to its sus­pen­sion in March 2015.

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