Trading of Chinese Real Estate Developer of Kaisa Group Suspened

Shares trading of embattles Chinese developer Kaisa Group Holding was suspended on Wednesday, according to a Hong Kong Stock exchange filing.

According to Reuters source, Kasia was unlikely to meet its $400 million offshore debt deadline on Tuesday.

A non-payment would lead to default of the company 6.5% bond, triggering cross defaults on its offshore bonds totaling nearly $12 billion.