Embattled Chinese real estate behemoth Evergrande overnight halted trading in its shares on the Hong Kong stock exchange.
No reason was given for the share suspension by the firm.
The move is the latest turn in the crisis that has engulfed what was once China’s largest property developer.
Evergrande is estimated to have built millions of homes for people across the country.
However, a series of miscalculated decisions to move into other business lines, such as football, and rampant debt-fuelled expansion has plunged Evergrande into crisis.
The heavily indebted property giant, which is estimated to have around $300bn in liabilities, is leaving creditors on tenterhooks over the release of a new restructuring plan.
Evergrande’s around $19bn in international bonds were declared to be in default by international rating agencies after it missed a payment deadline last month.
Last week, the firm also watered down plans to repay creditors to its wealth management products.
Evergrande said on Friday that each investor in its wealth management product would receive $1,257 each month as principal payment for three months irrespective of when the investment matures.
Previously, the company had agreed to repay 10 per cent of the investment by the end of the month when the product matures.