China 2nd Largest Bank China Construction Bank Files Liquidation Petition Against China Property Developer & Hong Kong-Listed Shimao Group for Failur
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China 2nd Largest Bank China Construction Bank Files Liquidation Petition Against China Property Developer & Hong Kong-Listed Shimao Group for Failure to Repay $200 Million of Loans, Deutsche Bank to File Liquidation Lawsuit Against Shimao Group after Defaulting on $1 Billion Offshore Bond in 2022 July & Triggering Default on $11.7 Billion of Offshore Bonds, Presented Restructuring Plan to Creditors in 2023 December, Share Trading Suspended for 16 Months till 2023 August, Market Value Decreased -90% from $17 Billion in 2020 to Current Market Value of $177 Million 9th April 2024 | Hong Kong
China 2nd largest bank China Construction Bank (CCB) has filed a liquidation petition against China property developer & Hong Kong-listed Shimao Group for failure to repay $200 million of loans. In March 2024, Deutsche bank has been reported to be preparing to file a liquidation lawsuit against Shimao Group after defaulting on a $1 billion offshore bond in 2022 July and triggering a default on $11.7 billion of all offshore bonds. In 2023 December, Shimao Group had presented a restructuring plan to creditors. Shimao Group share trading was suspended for 16 months till 2023 August, and the market value had decreased -90% from $17 billion in 2020 to current market value of $177 million (8/4/24). In 2023 August, Shimao Group Holdings share value had declined to $515 million (HKEX 4/8/23: HKD 4.03 billion) after 16 months share trading suspension, a 97% decline in market value from $17 billion in 2020. Shimao Group was founded in 2001 by Hui Wing Mau. In 2006, Shimao Group listed on Hong Kong Exchange.
“ China 2nd Largest Bank China Construction Bank Files Liquidation Petition Against China Property Developer & Hong Kong-Listed Shimao Group for Failure to Repay $200 Million of Loans, Deutsche Bank to File Liquidation Lawsuit Against Shimao Group after Defaulting on $1 Billion Offshore Bond in 2022 July & Triggering Default on $11.7 Billion of Offshore Bonds, Presented Restructuring Plan to Creditors in 2023 December, Share Trading Suspended for 16 Months till 2023 August, Market Value Decreased -90% from $17 Billion in 2020 to Current Market Value of $177 Million “
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Deutsche Bank to File Liquidation Lawsuit Against China Property Developer & Hong Kong-Listed Shimao Group after Defaulting on $1 Billion Offshore Bond in 2022 July & Triggering Default on $11.7 Billion of Offshore Bonds, Presented Restructuring Plan to Creditors in 2023 December, Share Trading Suspended for 16 Months till 2023 August, Market Value Decreased -99% from $17 Billion in 2020 to Current Market Value of $140 Million
Shanghai, China 9th March 2024 – Deutsche bank has been reported to be preparing to file a liquidation lawsuit against China property developer & Hong Kong-listed Shimao Group after defaulting on a $1 billion offshore bond in 2022 July and triggering a default on $11.7 billion of all offshore bonds. In 2023 December, Shimao Group had presented a restructuring plan to creditors. Shimao Group share trading was suspended for 16 months till 2023 August, and the market value had decreased -99% from $17 billion in 2020 to current market value of $140 million (8/3/24). In 2023 August, Shimao Group Holdings share value had declined to $515 million (HKEX 4/8/23: HKD 4.03 billion) after 16 months share trading suspension, a 97% decline in market value from $17 billion in 2020. Shimao Group was founded in 2001 by Hui Wing Mau. In 2006, Shimao Group listed on Hong Kong Exchange.
China Property Developer Shimao Group Holdings Share Value Declined to $515 Million after 16 Months Share Trading Suspension, 97% Decline from $17 Billion Market Value in 2020
4th August 2023 – China property developer Shimao Group Holdings share value had declined to $515 million (HKEX 4/8/23: HKD 4.03 billion) after 16 months share trading suspension, a 97% decline in market value from $17 billion in 2020. Shimao Group was founded in 2001 by Hui Wing Mau. In 2006, Shimao Group listed on Hong Kong Exchange.
Shimao Group Holdings
Shanghai, China Shimao Group Holdings Limited (“Shimao Group” or “the Company”, together with its subsidiaries, collectively as “the Group”; Hong Kong Stock Code: 813) was listed on the main board of The Stock Exchange of Hong Kong Limited on 5 July 2006. The Group develops large scale, high quality, integrated real estate projects, focusing on cities with high, dynamic economic growth potential in China. The Group is dedicated to the development of residential, hotel, office and commercial properties. Adhering to its mission, “Cultivating Life Taste”, the SHIMAO brand has led China’s property market with its pioneering “Riviera Model”, effectively integrating landscape, waterside, gardening and architectural elements into the daily life of every family, the outcome of which is a series of high-quality, classically-designed property projects. Incorporating innovation and foresight in our strategies, the Group is committed to “Accomplishing Urban Dreams” as we aspire to contribute to the process of urbanisation as an “urban operator”.
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