Evergrande founder's net worth takes a US$156 billion hit

Описание: *China’s Cantonese billionaire Xu Jiayin – also known as Hui Ka Yan – has seen his wealth plummet by two-thirds, as his company – the embattled property developer China Evergrande Group
*The property giant, which has piled a debt of more than US$300 billion, has been facing a lot of problems to raise funds as it faces a million  dollars’ worth of bond interest payment deadline every week.
*The cash-starved real estate developer has already missed one key US$83.5 million coupon payment last week, on an offshore March 2022, US$2 billion 5-year bond.
*In a bid to tide over its liquidity woes for the time being, the company has decided to sell its entire stake in Shengjing Bank.

#kalkinemedia #cantonesebillionaire #chinaevergrande #realestatedeveloper #shengjingbank

To get more updates about Australia, NZ, UK, Canada and US stock market news, investors education & insights, subscribe our channel at https://bit.ly/3cHKioy

Check out our media Website 👉 https://kalkinemedia.com/au
Follow us and stay updated on the Go with the Market Charter 👇👇
Facebook -   / kalkineau  
Twitter -   / kalkineau  
LinkedIn -   / 4829818