Yesterday marked the 50th day since Huarong shares were stopped in Hong Kong for failure by the bad-debt manager to release 2020 results, according to Yahoo finance.
- According to MSCI Inc rules, companies are always dropped from the MSCI index within three days after reaching the 50 gays deadline.
- The stock would be suspended until the company files its 2020 report with the city’s stock exchange.
- The decision to eliminate Huarong from MSCI would impact exchange-traded funds with more than $210 billion of assets.
- The delayed 2020 results have helped kick off concerns about the financial health of the company.
- The last two months has seen the development of worries concerning a potential restructuring and how much state support could be forthcoming.
The company started to dispose of seven units with about 700 billion yuan of combined assets.
2799:HK is down 1.92%.