Longfor's stock dives a record 45% after founder quits

By Agence France-Presse

Nov 02, 2022 12:11 am

BEIJING: The share price of Chinese property giant Longfor Group Holdings Ltd. tumbled by a record amount on Monday, after its long-serving chief abruptly resigned during a brewing crisis in the East Asian country's real estate sector.

Longfor's equities plummeted by as much as 45 percent on Monday morning before rallying to close down 23.8 percent at HK$10 ($1.27) a share.

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