Market Chatter: Two Hong Kong Mansions Linked to Evergrande Founder See Drop in Valuation

MT Newswires Live
2024-10-22

Two adjoining mansions linked to China Evergrande (HKG:3333) founder Hui Ka Yan are now being marketed at a much lower combined value of HK$900 million, Bloomberg News reported Monday, citing people familiar with the matter.

The mansions, located at House C and E at 10 Black's Link, were previously valued at HK$1.5 billion, the report said, citing the sources.

The houses were linked to Hui through his associate Tan Haijun, a director of the companies holding the mansions, according to the report.

Earlier in January, a Hong Kong court ordered Evergrande to be liquidated for failure to restructure more than $300 billion in debt after defaulting in 2021.

Hui is under detention in Shenzhen for his alleged role in the default. He was fined $6.6 million and banned from the securities market for life.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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