|Bid||11.760 x 0|
|Ask||11.780 x 0|
|Day's Range||11.560 - 12.160|
|52 Week Range||11.340 - 70.300|
|Beta (5Y Monthly)||0.17|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 24, 2022|
|Forward Dividend & Yield||0.35 (2.01%)|
|Ex-Dividend Date||Jun 01, 2022|
|1y Target Est||49.24|
Chinese property firms saw their battered bonds cement a strong weekly bounce on Friday, although there was one notable absentee from the rally: China Evergrande Group. A flurry of asset sales and share placings, including some from Evergrande itself, has sparked hopes this week that the heavily-indebted sector will be able to avoid a full-blown crisis and finally stabilise. Friday's gainers included China's top property developer Country Garden, whose bonds were nearly back to par, or 100 cents on the dollar, having tumbled to around 80 cents last week in a sector-wide slide.
A unit of mainland China's biggest developer has raised HK$8 billion (US$1.03 billion) by selling shares amid a slowdown in equity and property markets, prompting a slump in the share price. Country Garden Services Holdings, the property management arm of Country Garden, sold 150 million shares at HK$53.35 each, according to a filing to the stock exchange. That was a discount of 9.5 per cent to the closing price of HK$58.95 on Wednesday, before the announcement. "The property market is tough. Ma
China Evergrande Group is selling its entire stake in streaming services firm HengTen Network Group for HK$2.13 billion ($273.5 million), as the cash-strapped developer struggles to avoid a debilitating default on its debts. However, S&P Global Ratings said in a report on Thursday that a default is still "highly likely" for the world's most indebted developer despite its recent bond coupon payments because it has a bigger test in March and April next year, facing a total of $3.5 billion maturities in dollar bonds. "We still believe an Evergrande default is highly likely," it said.