Kaisa to sell assets after missing payment as it faces a hectoring by Shenzhen authorities and group’s stocks halt trading in Hong Kong

Nov 5, 2021 | INVESTING

Kaisa Group Holdings is selling assets to raise capital for liabilities including a missed payment on a wealth product and US$11 billion of dollar bonds, as it faces a hectoring by Shenzhen’s government and the trading of its stocks were halted in Hong Kong.The developer has put 18 property projects with 1.45 million square metres (15.6 million square feet) in Shenzhen on the auction block, with a combined value estimated at 81.82 billion yuan (US$12.8 billion), according to a catalogue seen by…

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