חברת נדל"ן סינית שנחשבה לגדולה ביותר בתחומה, פשטה את הרגל ונמחקה מהבורסה

China's former property giant Evergrande was delisted from the Hong Kong Stock Exchange on Monday. The delisting closes a chapter in China's property crisis that started in 2021. Evergrande isn't expected to be the last Chinese real estate company to face the same fate. Here's a closer look. China Evergrande's epic boom-to-bust journey is a cautionary tale for the country's property Evergrande was once China's leading developer. Its original listing in Hong Kong in 2009 was the biggest by a Chinese private developer. But the firm also had the largest pile of debt in the property sector globally. Evergrande is one of this landmark example of the collapse of the China's real estate sector a few years ago. So what we see right now in the listing, it is really largely symbolic because the market has pretty much anticipated the pressure in the sector already. So having said that, it still marks the end of the golden age of China's real estate sector. The developer started with a strong public market debut and a stock value of $9 billion. It grew more than fivefold to $51 billion, only to plummet in recent years. And Evergrande is now worth a mere $282 million. Trading in shares in the world's most indebted developer has been suspended since January last year. It was hit with a liquidation order after it defaulted on debt and failed to finalise a restructuring plan. A filing showed Evergrande is getting delisted from the Hong Kong Stock Exchange due to its failure to resume trading within 18 months. The delisting will close a chapter in China's property crisis that started in 2021. Evergrande is also unlikely to be the last to meet the same fate. China South City became the first state-backed property developer to get a liquidation order from the Hong Kong High Court earlier this month. It's possible for more companies to follow the same path of Evergrande and especially for those that cannot meet the listing requirement in terms of the disclosure and also the auditing releases. And if they get their stock suspended for more than 18 months, then they will be forced to delist from Hong Kong Exchange. Chinese authorities have tried to revive the property sector over the years, which once made up for a quarter of its GDP, while buyers wait for their unfinished homes to be handed over and creditors hope to recoup their money. Evergrande declined to comment.