Country Garden gets trading resumption guidance from Hong Kong exchange
BENGALURU - Debt-laden property developer Country Garden said on June 27 it had received guidance from the Hong Kong stock exchange over resumption in trading of its shares, which have been halted since April 2.
The stock exchange has asked the cash-strapped real estate firm to publish all its outstanding financial results along with any audit modifications, the company said in an exchange filing.
Country Garden indicated that it is still preparing the consolidated financial statements for the fiscal year ended 2023.
“The group is also maintaining ongoing communication and orderly cooperation with the auditor” to finalise and publish the 2023 annual results and despatch the annual report as soon as practicable, the company said.
In the past few months, Country Garden and its advisors have been working with Kroll, a financial and risk advisory firm, with the latter performing an independent recovery analysis on the group which is still reeling from the struggling property market in China. REUTERS