Mon September, 2021, Age: 2 years
Zhang Yuanlin, chairman of Sinic Holdings Group, saw his net worth drop from $1.3 billion Monday morning to $250.7 million by the afternoon, due to fears over the potential collapse of Chinese real estate giant Evergrande which sent panic across Hong Kong trading floors. Sinic saw a sudden sell-off and massive increase in trading volume on its shares in the hours prior to its suspension, which comes just weeks before it must pay a 9.5 percent $246 million bond due on October 18.
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