• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Evergrande says six execs redeemed investment products in advance

September 18, 2021 by David Barret Leave a Comment

September 18, 2021

BEIJING (Reuters) – Six executives of China’s heavily indebted Evergrande had redeemed some of the company’s investment products in advance earlier this year, the property group said on Saturday.

Between May 1 and Sept. 7, the six executives made early redemptions of 12 investment products, Evergrande said in a statement on its website, without identifying the executives or giving details on the nature of the products.

“Regarding the early redemption of Evergrande wealth investment products by some managers, the group company views the matter seriously,” the company said.

Evergrande said it had requested that all the funds redeemed by the six managers in advance be returned within a certain time frame.

Severe penalties would also be imposed, it said.

Evergrande, with over $300 billion in liabilities, is in the throes of a liquidity crisis that has left it racing to raise funds to pay its many lenders and suppliers.

The company has epitomised China’s freewheeling era of borrowing and building. Uncertainty about its ability to meet funding obligations – equal to 2% of China’s gross domestic product – has sent jitters through markets.

The group has been hit by recent ratings downgrades, with both S&P Global Ratings and Fitch Ratings warning of the risk of default.

(Reporting by Ryan Woo; editing by Richard Pullin)

Source Link Evergrande says six execs redeemed investment products in advance

David Barret
David Barret

Related posts:

  1. Guinean political prisoners freed, regional bloc to discuss coup
  2. Pakistan suggests inviting Taliban-run Afghanistan to regional forum
  3. Soccer-Premier clubs could face sanctions if they play South American players
  4. Tigray forces killed 120 civilians in village in Amhara – Ethiopia officials

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Can Children Help Each Other Pass The Famous Marshmallow Test?
  • California’s Highest-Altitude Tree Found By Happy Accident At 12,657 Feet
  • Is The Spiny Devil Katydid The Strangest Insect In The World? You Tell Us
  • Yep, You Can Milk A Snake – These Scientists Extract Venom From Some Of The Deadliest Snakes
  • The Last Remaining Soft Tissues Of A Dodo Date To 1683 CE – And Are Still Going Strong
  • This Indigenous Tribe Has Tragically Forgotten How To Dance, Sing Lullabies And Make Fire
  • Nepal’s Snow Leopard Population Is Bigger Than Previously Thought, But Still Mysterious
  • The Amazon’s “Dark Earth” Was Created By Ancient People Thousands Of Years Ago
  • Watch A Gorgeous White Stingaree Swimming Along The Seafloor
  • Starbase City: Elon Musk’s SpaceX Gets Its Own Municipality In Texas, Complete With A Familiar Mayor
  • What Is The Specific Purpose Of These Lines On Towels?
  • Just 0.001 Percent Of The Deep Ocean Has Been Directly Observed
  • First Ever Image Of “Free Floating” Atoms Snapped By MIT Scientists
  • The Haenyeo “Sea Women” Of Korea Have Evolved For A Life Under The Sea
  • Was Alcatraz Inescapable? A Study Suggests A 1962 Jailbreak May Have Been A Success
  • Title Of Ancient Burnt Herculaneum Scroll Identified For First Time In 2,000 Years
  • New Species Of Incredible “Accordion Worm” Can Squish Down To One-Fifth Of Its Original Size
  • New US Bill Asks NASA To Tackle Relativistic Effects On The Moon And Mars
  • Largest Dam Removal Project In The World Triggers Return Of Salmon After Years Of Campaigning
  • The World’s Most Powerful Superconducting Electromagnet Will Soon Power The Quest For Fusion
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version