Evergrande halts trading after chairman falls under investigation  

Hui Ka Yan is under investigation over suspected “illegal crimes.”

China Evergrande  Group suspended the trading of its shares in the Hong Kong Exchanges and Clearing Limited (HKEX) on 28 September.

In a bourse filing, the embattled property developer said it suspended trading after its executive director and chairman of the board, Hui Ka Yan, was subjected to “mandatory measures in accordance with the law due to suspicion of illegal crimes.”

“The trading in the shares of the Company will remain suspended until further notice,” the company said.

The board advised shareholders of the company’s securities and potential investors to exercise caution when dealing in the securities of Evergrande.