Trade has been suspended on shares of heavily indebted Evergrande and its unit Evergrande Property Services Group on the Hong Kong Stock Exchange on Monday.  

According to foreign media, the financially-strapped Chinese property giant explained the suspension as "pending... an announcement containing inside information about a major transaction." 

With the real estate developer said to be more than 300 billion dollars in debt, Evergrande’s share value has plunged nearly 80 percent this year and its bonds have sunk to levels that suggest investors are bracing for a default.

Its market value is estimated to be around 39-point-one billion Hong Kong dollars and that of Evergrande Property Services Group 55-point-four billion Hong Kong dollars.