Reuters (August 22)
The “boom-to-bust saga” of China Evergrande Group drew closer to the end with its formal “delisting from the Hong Kong stock exchange on Monday,” which as the largest by market value and volume in recent years.” For investors, “the journey has been anything but grand.” After achieving a $9 billion market cap in its 2009 IPO, Evergrande rocketed ahead, growing “more than five-fold to $51 billion eight years later only to plummet to earth,” with it’s current value approximately $282 million and creditor claims of approximately $45 billion. “The company’s journey from stock exchange darling to a pariah in the financial markets is a cautionary tale of unbridled debt-fuelled expansion in the world’s second-largest economy.”
Tags: Boom, Bust, Cautionary tale, China. Evergrande, Creditor claims, Debt-fuelled, Delisting, Expansion, Hong Kong, Investors, IPO, Market value, Pariah, Stock exchange, Volume
Euromoney (September)
“The security crisis brought on by the rise of Islamic State could turn Iran from pariah to much-needed partner to the west.” This places Iran “at a crossroads.” Will the nation chose to be “a resource-rich, rejuvenated success story, returned to the international fold and relied upon by western states as a stable force in an increasingly troubled region?” Or, instead, will it continue as “a recession-hit, bad loan-addled failure still barred from western trade and getting steadily, inexorably worse?” The view in Tehran is that it could go either way.”
Tags: Crossroads, Failure, Iran, Islamic State, Pariah, Partner, Recession, Resource-rich, Security crisis, Stable force, Tehran, Western trade
