Evergrande Property Services Stake Sale Collapses, Sending Shares Down 24% - Liquidators failed to reach a formal agreement with a prospective buyer for the 51% holding, derailing an effort to raise funds for creditors
Evergrande Property Services Group's shares plummeted after the company announced on June 25 that negotiations to sell a controlling stake had ended. The shares fell by more than 21% at one point and reached their lowest level in a year during the afternoon trading session.