HONG KONG (Reuters) – Shares in China’s Shimao Group fell 15% to HK$0.73 on Monday, their lowest since Sept. 26, after the developer received a liquidation request.
Shimao said on Friday that CPYM Link Investment had filed for company liquidation in Hong Kong’s high court in connection with a 258 million yuan ($35.2 million) cross-border loan guarantee provided by an investor.
($1 = 7.3308 yuan)
