Shares of China Evergrande Group tumbled on Jan. 27, a day after the debt-saddled developer announced a six-month preliminary restructuring proposal in a bid to quell its uneasy bondholders.
Evergrande, wrestling with liabilities of over $300 billion at home and aboard, “will continue to listen carefully to the opinions and suggestions of the creditors,” Chairman Hui Ka Yan said in a Jan. 26 filing (pdf) to the Hong Kong Stock Exchange. “It aims to come up with a preliminary restructuring proposal in the next six months,” the filing reads.
