The embattled property giant's shares were taken off the Hong Kong stock market on Monday.

Chinese property giant Evergrande’s shares were taken off the Hong Kong stock market on Monday after more than a decade and a half of trading.

It marks a grim milestone for what was once China’s biggest real estate firm, with a stock market valuation of more than $50bn (£37.1bn). That was before its spectacular collapse under the weight of the huge debts that had powered its meteoric rise.

Experts say the delisting was both inevitable and final.

“Once delisted, there is no coming back,” says Dan Wang, China director at political risk consultancy Eurasia Group.

Evergrande is now best-known for its part in a crisis that has for years dragged on the world’s second-largest economy.

  • ominous ocelot@leminal.spaceEnglish
    7·
    11 hours ago

    … meteoritic rise…

    No, they don’t. Meteorites fall to the ground while vaporizing themselves. Like Evergrande it seems.

    Edit: @Hugin@lemmy.world made a good point. It actually does make sense of you say meteoric rise, which they did.

    • Hugin@lemmy.worldEnglish
      5·
      21 hours ago

      meteor means things high in the sky. from Greek ta meteōra “the celestial phenomena, things in heaven above,” plural of meteōron, literally “thing high up,”

        • Hugin@lemmy.worldEnglish
          3·
          12 hours ago

          meteoric rise means to rise high in the sky. Meteorologist to study things high in the sky. Meteor thing in the sky.

          Meteoric rise doesn’t reference the rock falling from the sky. They have the same root word meaning high in the sky.