Hui Ka Yan, the founder of real estate developer China Evergrande Group has been placed under mandatory measures, the group said in a filing it sent to Hong Kong Stock Exchange on Thursday.
China Evergrande said it received notification from relevant authorities that Hui Ka Yan, an executive director of the company and chairman of the board of directors of the company, has been subject to mandatory measures in accordance with the law due to suspicion of crimes.
China Evergrande Group said its trading on the Hong Kong Stock Exchange will remain suspended until further notice.
Trading in the shares of China Evergrande Group and two of its units was suspended on Thursday.
