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13 Sep 2:14am

Evergrande investors face 75% hit as company edges closer to restructure

The Guardian
Analysts say massively indebted China property group likely to be dismantled to avoid triggering market-wide panic The troubled Chinese property group Evergrande has edged closer to a government-engineered restructuring which could see bondholders take huge losses as Beijing’s price for saving millions of homeowners from financial ruin. With the likelihood increasing every day that the massively indebted group will be dismantled to avoid triggering a market-wide panic, trade in one of its bonds was suspended in Shanghai on Monday after it plunged 25%.
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