Evergrande shares plunge as much as 87% as trading resumes after 17 months

Evergrande shares tumbled as much as 87% on the Hong Kong Stock Exchange on Monday, to as low as 22 Hong Kong cents.

China Evergrande Group last traded on the Hong Kong exchange on March 18, 2022 at 1.65 Hong Kong dollars per share, before being suspended on March 21.

The company also posted a loss of 39.25 billion yuan for the six months ended June, with total liabilities of 2.39 trillion yuan.plunged as much as 87% on its open on Monday, trading for the first time since March 21, 2022. Shares fell to as low as 22 Hong Kong cents on Monday, compared to its last close at 1.65 Hong Kong dollars per share on March 18, 2022.

The resumption of trade comes as the company posted a loss of 39.25 billion yuan for the six months ended June, a smaller loss compared to the 86.17 billion yuan loss the same period a year ago.Revenue came in at 128.81 billion yuan, rising from 89.28 billion yuan in June 2022.

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