Sky News Business Editor Ross Greenwood says shares in the indebted Chinese development company Evergrande have been suspended due to expectations of a sale.

Evergrande is assumed to be looking to sell off its property management business for approximately $5 billion, but the money will not cover the debts.

The company missed a repayment late last month but has 11 more outstanding interest payments due before the end of the year, totalling US$566.6 million.

Evergrande’s debts are believed to exceed $300 billion.

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