Shares in Evergrande’s electric vehicle unit tumbled in Hong Kong after it scrapped plans for a secondary listing on Shanghai’s Star Market, as bondholders remained in limbo after the indebted Chinese property developer missed a crucial payment last week.
The pulled listing is the latest hit to a unit that once had a higher stock market valuation than Ford and comes as a liquidity crisis at Evergrande has roiled global markets and spurred fears among in