China Evergrande shares plunge 10.5% as unit sale deal falls through

Evergrande Center building in Shanghai. Credit: AFP File Photo

Shares in Chinese property giant China Evergrande tumbled more than 10 per cent at the open Thursday, as trading in the firm resumed following a nearly three-week suspension with news that a deal to sell a property services unit had fallen through.

Also read: Evergrande to resume trading after talks end on potential deal

The company sank 10.5 per cent to HK$2.64 as the firm announced the $2.58 billion sale of a 50.1 per cent stake in Evergrande Property Services Group had fallen through.

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