Evergrande Group acquired a 50 stake in Sino-Singapore Great Eastern Life Insurance Company in 2015 and changed its name to Evergrande Life. As AMCs share price climbed some of the market makers on the other side of the trade - typically large banks or financial institutions - were forced to buy AMC stock to hedge their risk.
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In addition Evergrande Group is the largest shareholder of Shengjing Bank holding 1728 of the shares.
Evergrande share price yahoo finance. Evergrande Property Services Group slumped in Hong Kong by the most since its December listing after an unidentified seller offloaded several blocks of shares as soon as a six-month lock-up period on key investors expired on Wednesday. The stock sank 13 per cent to HK978 at the close of trading on Wednesday erasing the equivalent of US19 billion from its market value. The meteoric rise in shares of AMC Entertainment Holdings Inc may have diminished an important options market force that helped fuel its recent gains analysts said.
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