Hedge Fund Fraud Probe Raises Alarms for China Risk Managers bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
China Risk Fund Managers alarmed by hedge fund fraud probe hedgeweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hedgeweek.com Daily Mail and Mail on Sunday newspapers.
China Regulators In Talks With Shimao, Trusts On Loan Extension bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.
Shimao Group Holdings Ltd’s (世茂集團) bonds tumbled to new lows after the developer’s attempts to revive confidence in its finances failed to reassure investors.
Shimao Group’s bond due next year plunged by more than US$0.07 on the dollar, despite reassurances from its Shanghai Shimao Co (上海世茂) unit late on Tuesday that its business activities are normal, and that there is no event that would affect its ability to repay its bond principal and interest.
The parent company also defended a transaction between two units that had prompted the Shanghai Stock Exchange to ask whether the deal would hurt smaller shareholders.
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