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MNI BRIEF: HK's Hopson Shares Halted Pending Acquisition News

SINGAPORE (MNI)

Hopson Development Holdings is a Hong Kong--listed property developer reported to be eyeing a stake in China Evergrande Group's property unit

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The Hong Kong stock exchange on Monday suspended share trading in Hopson Development Holdings pending a major acquisition announcement.

Separately, a report carried on the Associated Press and citing Caixin media said that a unit of the holding firm, Hopson Chuangzhan, plans to buy about a 51% stake in Evergrande Property, a unit of China Evergrande Group for more than HKD40 billion. Subsequently, Evergrande issued a statement to the Hong Kong stock exchange that its shares were suspended pending "an announcement containing inside information about a major transaction."

Hopson has not commented on the report on their websites.

Earlier on Monday, shares in China Evergrande Group traded on the Hong Kong stock exchange were suspended pending an announcement.