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BEIJING : China Evergrande said on Sunday in a filing to the Hong Kong stock exchange that in view of the investigation of Hengda Real Estate Group, its flagship onshore unit, it was unable to meet qualifications for issuance of new notes.
The Evergrande unit was being probed by the Chinese securities regulator for suspected violation of information disclosure.
As of end-July, Hengda Real Estate’s unpaid debts due totalled about 277.5 billion yuan ($38 billion), and had 1,931 pending litigation cases.
($1 = 7.2980 Chinese yuan renminbi)
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