HONG KONG (Reuters) – Shares of China's Shimao Group fell 15% to HK$0.73 on Monday, their lowest level since Sept. 26, after the property developer received a liquidation petition.
CPYM Link Investment has filed a liquidation petition against the company in the Hong Kong High Court in connection with a 258 million yuan ($35.2 million) cross-border loan guarantee provided by the property developer, Shimao said on Friday.
($1 = 7.3308 yuan)
