HK bourse asks Evergrande to rule out risks to management integrity after overhaul

(Reuters) -The Stock Exchange of Hong Kong has asked debt-laden China Evergrande Group to mitigate any risk to management integrity as part of the steps towards a resumption in stock trading, the company said on Thursday.

The guidance comes weeks after the property developer’s chief executive and finance head stepped down following a probe that found they were involved in siphoning loans secured by the property services unit to the company.

The property services unit, Evergrande Property Services, was also issued a similar guidance by the bourse.

The company has also been asked to conduct a review to show it has the required internal mechanisms to ensure it will meet listing compliance regulation.

(Reporting by Harshita Swaminathan; Editing by Krishna Chandra Eluri and Arun Koyyur)


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