(Corrects to “million” from “billion” in 2nd last paragraph)
HONG KONG, Oct 3 (Reuters) - Shares in Chinese property developer Evergrande Group were suspended from trading in Hong Kong on Monday afternoon, the stock exchange said, without giving a reason for the halt.
Evergrande, the country’s no. 2 developer by sales for the first half of this year, said it would issue a statement later in the day.
Highly acquisitive Evergrande has captured investor attention after amassing some $57 billion in debt, although it has a market value of about $10 billion.
It has also bought shares worth $2.2 billion in rival China Vanke , putting itself itself in the middle of a high profile corporate battle.
Last week it said it was selling some non-core assets for $405 million.
Its shares last traded at HK$5.24, unchanged from Friday.
Reporting by Clare Jim; Editing by Edwina Gibbs