China Evergrande Halts Potential Share Transfer Discussions

China Evergrande New Energy Vehicle Group Ltd announced the cessation of talks regarding a potential share transfer, as the prospective seller decided not to proceed. The company is actively seeking new potential buyers and has applied for trading resumption on the stock exchange from October 28.

China Evergrande New Energy Vehicle Group Ltd has officially halted discussions concerning a potential share transfer after the prospective seller opted out of the negotiations. This decision marks a significant pause in the company's strategy to engage with new investors.

Reports indicate that there will be no facility agreement finalized or financing provided by the intended purchaser, posing a potential setback in Evergrande's financial planning. Despite these challenges, the group remains committed to finding suitable buyers.

In an effort to stabilize its market position, China Evergrande has applied for the resumption of share trading on the stock exchange, slated for October 28. Stakeholders are keenly observing the company's next strategic moves following this development.

(With inputs from agencies.)