The suspension followed reports of billionaire Xu Jiayin’s police detention under ‘residential surveillance’.
Evergrande had just recently resumed trading after a 17-month ban due to its failure to release financial reports.
The halt in trading comes a day after a Bloomberg report that Evergrande’s billionaire boss Xu Jiayin was being held by police under “residential surveillance”. And on Friday it said meetings planned this week on a key debt restructuring plan would not take place, adding it was “necessary to reassess the terms” of the plan in order to suit the “objective situation and the demand of the creditors”.
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