China Evergrande Group (formerly: Evergrande Real Estate Group) (3333.HK)

[specuvestor]

Frankly evergrande is a high risk bet. It could easily be another kaisa

Gaudente swam with sharks and emerged victorious but i wouldn't encourage doing this on a consistent basis

[specuvestor]

^^^ The shark bites... but kudos to Gaudente's timing

(Bloomberg) -- Evergrande Real Estate Group Ltd. plunged
the most in five and a half years after being forced to cut the
price of a share sale that analysts said will do little to
reduce the company’s indebtedness.
Evergrande raised HK$4.6 billion ($593 million) of net
proceeds selling shares at HK$5.67 each, a statement to the Hong
Kong stock exchange Friday showed. The price represents an 18
percent discount to Evergrande’s last close, compared with the 8
percent to 10 percent discount marketed by its arranging banks
on Thursday.
Hong Kong share placements rarely price below the marketed
range that investors are approached with. While Evergrande
managed to raise the $600 million it originally sought by
selling additional shares, the proceeds are seen by analysts as
having little impact on easing its debt load.
“The new equity will hardly move the dial on its credit
metrics.” Charles Macgregor, head of Asia at Lucror Analytics,
wrote in a research note Friday.
Evergrande shares tumbled 21 percent to HK$5.43 at the
midday break in Hong Kong, the biggest decline since the company
began trading in November 2009. The share price double in the
past three months before the plunge.

[Gaudente]

bought back my 30,000 shares today at 3.50 (disclaimer : the smile might be premature)

[Gaudente]

notice that while share price plummets , the company keeps reporting good news : http://www.hkexnews.hk/listedco/listcone...061159.pdf
for the first half , sales and average price are both up compared to previous year

[Gaudente]

bought back my 30,000 shares today at 3.50 (disclaimer : the smile might be premature)

sold 1 minute ago at 4.35
I think today is just a rebound and tomorrow China markets will nosedive again.

[soros]

bought back my 30,000 shares today at 3.50 (disclaimer : the smile might be premature)

sold 1 minute ago at 4.35
I think today is just a rebound and tomorrow China markets will nosedive again.

Good result. Well done.

[BlueKelah]

Moody's Downgrades Evergrande on `Highly Acquisitive Appetite'


Possibly China's "ENRON" 

Getting "JUNKIER" by the minute, B2 rating now

[specuvestor]

(Bloomberg) -- Shenzhen stock exchange strengthens supervision over stock accounts controlled by the co. and its subsidiaries as “abnormal trading behaviors” were found to significantly affect the share prices of China Vanke and other listed cos., the exchange says.
Those accounts are required to make commitments on compliance
Bourse asks listed cos. to fully disclose the purpose of Evergrande and related accounts holding shares in them
NOTE: China Urges Evergrande Life to Stop Speculation in Stocks Link

[cyclone]

Evergrande's Bad Debt Tradition

By Christopher Langner
March 17, 2017 2:23 AM EDT

It's becoming a tradition. China Evergrande Group has started the year three times since 2014 by asking bondholders to loosen restrictions on raising more debt and spending on acquisitions. It then goes on a borrowing and buying spree. The result has been a series of credit downgrades that has China's most indebted developer on the verge of the C category, associated with imminent default.

The Guangzhou-based company is offering notes payable in 2020 and 2022, Bloomberg News reported on Friday, citing people familiar with the matter. The move comes only three days after Evergrande got holders of its outstanding offshore bonds to relax constraints on how much debt the company can assume.

Among other things, Evergrande was allowed to increase the amount of permitted investments to 25 percent of assets from 20 percent. Other rules were eased that freed some subsidiaries to take on more debt individually. Evergrande had 999.9 billion yuan ($144.9 billion) of assets as of June 30, so the company in effect just obtained a blank check to increase its permitted investments by $7.2 billion.

More details in https://www.bloomberg.com/gadfly/article...time-again

[Gaudente]

yet stock price is 6.52 ( a lot higher than a couple of years ago) and yield for new bonds in the 7.50% area (it was 12% a couple of years ago) . If they are going to be China's Enron , they surely did not take the most direct path...