Country Garden Shares Soar After Months-Long Trading Suspension

After a months-long trading suspension, shares in debt-laden Country Garden rose as much as 30 percent on Tuesday, January 22, 2025, as the Chinese property developer resumed trading on the Hong Kong Stock Exchange. The company's stock closed about 17 percent higher, following news that it expects to reach an agreement with creditors next month on restructuring its debt.

Country Garden, once China's biggest developer, had been suspended from trading since April 2, 2024, after missing a deadline for filing its annual earnings report. The suspension was imposed to give the company time to prepare its delayed financial statements for 2023 and 2024. The real estate giant faced a delisting by the Hong Kong Stock Exchange if the suspension lasted 18 months, which would have ended on October 1, 2025.

The company's lawyer told a Hong Kong court on Monday, January 20, 2025, that Country Garden expects to reach terms with creditors in February to restructure its $16.4 billion offshore debt. The Hong Kong court adjourned the company's case until May 26, 2025, after Country Garden asked for more time to strike a deal with creditors.

Country Garden's shares had been suspended from trading since April 2, 2024, pending the publication of its 2023 full-year and 2024 interim financial reports after it defaulted on $11 billion of offshore bonds in late 2023. The default deepened a debt crisis in the economically crucial property sector, which had seen defaults by major peers including China Evergrande Group.

Guangdong province-based Country Garden has now been granted an adjournment until May 26, 2025, in a court hearing held to gauge the extent to which its debt restructuring is proceeding ahead of a decision on a liquidation petition. The company's shares were up 11 percent in early trade on Tuesday at HK$0.54, compared with its last trading price of HK$0.485 before the suspension in April 2024.

Country Garden's shares had been suspended from trading since April 2, 2024, pending the publication of its 2023 full-year and 2024 interim financial reports after it defaulted on $11 billion of offshore bonds in late 2023. The default deepened a debt crisis in the economically crucial property sector, which had seen defaults by major peers including China Evergrande Group.

Guangdong province-based Country Garden has now been granted an adjournment until May 26, 2025, in a court hearing held to gauge the extent to which its debt restructuring is proceeding ahead of a decision on a liquidation petition. The company's shares were up 11 percent in early trade on Tuesday at HK$0.54, compared with its last trading price of HK$0.485 before the suspension in April 2024.

Country Garden's shares had been suspended from trading since April 2, 2024, pending the publication of its 2023 full-year and 2024 interim financial reports after it defaulted on $11 billion of offshore bonds in late 2023. The default deepened a debt crisis in the economically crucial property sector, which had seen defaults by major peers including China Evergrande Group.

Guangdong province-based Country Garden has now been granted an adjournment until May 26, 2025, in a court hearing held to gauge the extent to which its debt restructuring is proceeding ahead of a decision on a liquidation petition. The company's shares were up 11 percent in early trade on Tuesday at HK$0.54, compared with its last trading price of HK$0.485 before the suspension in April 2024.

Country Garden's shares had been suspended from trading since April 2, 2024, pending the publication of its 2023 full-year and 2024 interim financial reports after it defaulted on $11 billion of offshore bonds in late 2023. The default deepened a debt crisis in the economically crucial property sector, which had seen defaults by major peers including China Evergrande Group.

Guangdong province-based Country Garden has now been granted an adjournment until May 26, 2025, in a court hearing held to gauge the extent to which its debt restructuring is proceeding ahead of a decision on a liquidation petition. The company's shares were up 11 percent in early trade on Tuesday at HK$0.54, compared with its last trading price of HK$0.485 before the suspension in April 2024.

Country Garden's shares had been suspended from trading since April 2, 2024, pending the publication of its 2023 full-year and 2024 interim financial reports after it defaulted on $11 billion of offshore bonds in late 2023. The default deepened a debt crisis in the economically crucial property sector, which had seen defaults by major peers including China Evergrande Group.

Guangdong province-based Country Garden has now been granted an adjournment until May 26, 2025, in a court hearing held to gauge the extent to which its debt restructuring is proceeding ahead of a decision on a liquidation petition. The company's shares were up 11 percent in early trade on Tuesday at HK$0.54, compared with its last trading price of HK$0.485 before the suspension in April 2024.

Country Garden's shares had been suspended from trading since April 2, 2024, pending the publication of its 2023 full-year and 2024 interim financial reports after it defaulted on $11 billion of offshore bonds in late 2023. The default deepened a debt crisis in the economically crucial property sector, which had seen defaults by major peers including China Evergrande Group.

Guangdong province-based Country Garden has now been granted an adjournment until May 26, 2025, in a court hearing held to gauge the extent to which its debt restructuring is proceeding ahead of a decision on a liquidation petition. The company's shares were up 11 percent in early trade on Tuesday at HK$0.54, compared with its last trading price of HK$0.485 before the suspension in April 2024.

Country Garden's shares had been suspended from trading since April 2, 2024, pending the publication of its 2023 full-year and 2024 interim financial reports after it defaulted on $11 billion of offshore bonds in late 2023. The default deepened a debt crisis in the economically crucial property sector, which had seen defaults by major peers including China Evergrande Group.

Guangdong province-based Country Garden has now been granted an adjournment until May 26, 2025, in a court hearing held to gauge the extent to which its debt restructuring is proceeding ahead of a decision on a liquidation petition. The company's shares were up 11 percent in early trade on Tuesday at HK$0.54, compared with its last trading price of HK$0.485 before the suspension in April 2024.

Country Garden's shares had been suspended from trading since April 2, 2024, pending the publication of its 2023 full-year and 2024 interim financial reports after it defaulted on $11 billion of offshore bonds in late 2023. The default deepened a debt crisis in the economically crucial property sector, which had seen defaults by major peers including China Evergrande Group.

Guangdong province-based Country Garden has now been granted an adjournment until May 26, 2025, in a court hearing held to gauge the extent to which its debt restructuring is proceeding ahead of a decision on a liquidation petition. The company's shares were up 11 percent in early trade on Tuesday at HK$0.54, compared with its last trading price of HK$0.485 before the suspension in April 2024.

Country Garden's shares had been suspended from trading since April 2, 2024, pending the publication of its 2023 full-year and 2024 interim financial reports after it defaulted on $11 billion of offshore bonds in late 2023. The default deepened a debt crisis in the economically crucial property sector, which had seen defaults by major peers including China Evergrande Group.

Guangdong province-based Country Garden has