Evergrande Sells Superyacht and Jet as Debt Crisis Forces Asset Sales

Evergrande sold its $60 million luxury superyacht Event earlier this year for around $32 million.
The sale shrinks Evergrande's offshore assets as it struggles with a major debt crisis.
Offshore creditors are expected to focus on recovering Evergrande's remaining overseas assets.
Evergrande also sold a private jet last year for $100 million.
Creditors could target any unpledged offshore assets of Evergrande and its founder amid debt restructuring.

reuters.com

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10/3/2023

Evergrande Stock Soars 40% on Resumed Trading Despite Ongoing Debt Crisis and Investigation of Founder

Shares of Chinese real estate giant Evergrande have surged after trading in the company resumed in Hong Kong following a temporary suspension, amidst investigations into its billionaire founder and a default on its debts, triggering a property crisis in China.