HomeEconomy10. October 2021, 6:57 p.m.
Evergrande: managers give back money
Six executives at ailing Chinese real estate company Evergrande have repaid funds from initial buybacks of investment products, according to the company. As the group announced in a statement on Saturday, senior employees made repurchases of a total of twelve financial assets between May 1 and September 7, 2021. In the meantime, however, all funds have been refunded in full by this Friday. Sanctions were imposed and the six responsible were brought to justice, according to the company. Evergrande did not provide any details on the identity of the directors or the nature of the financial products. China’s second-largest real estate developer has over $ 300 billion in debt.
© SZ of 11/10/2021 / Reuters