Debt-ridden Evergrande urges investor 'caution' as audit result delayed

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Evergrande has an expected US$2 billion repayment obligation on Wednesday.

Beijing's drive to curb excessive debt in the real estate sector has embroiled Evergrande, one of the country's largest developers

On Tuesday, a day after the company announced a halt in trading, it said it would not be able to publish its 2021 audited results by the end of the March as Hong Kong's listing rules require. The suspension is the second this year, and it comes ahead of an expected $2 billion repayment obligation on Wednesday and another next month of $1.4 billion.

 

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