Inter Owner Suning’s Stocks Frozen On Exchange, Chinese Media Report

Inter Owner Suning’s Stocks Frozen On Exchange, Chinese Media Report
June 16, 2021 15:00
( )

The stocks of Inter owner Suning’s retail company suning.com have been suspended after a market collapse following the freezing of 5.8% of the company’s shares by a Chinese court.

This according to Chinese news organization Titan Sports Plus, who report on Twitter that the decision to freeze more than a quarter of shares owned by founder Zhang Jindong has prompted the company’s stock to fall rapidly in the Chinese stock exchange.

The decision to freeze Jindong’s shares followed a liquidity crisis at the company brought on by their inability to repay debts.

It is unclear what this means for Inter, with substantial assets frozen for Suning’s owner and the subsequent decline in the company’s market value potentially compromising the long-term health of the company and its ability to control Inter.

However, it is not thought that this development will immediately affect the Nerazzurri, as the budget for the summer is already guaranteed by loans, and the club will stick to financial targets already outlined.

By Toni Weeler

Photo – Inter Striker Romelu Lukaku Working Hard In Training: “Keep Pushing”

July 29, 2021 04:30
( )

Inter striker Romelu Lukaku is back in training, and the Belgian is enjoying getting back into the rhythm with his teammates and working hard to…

Photo – Inter Celebrate Win Against Crotone In Friendly: “Job Done”

July 29, 2021 02:30
( )

Inter have marked a successful friendly off on their pre-season calendar, beating Serie B side Crotone in a friendly match by a scoreline of 6-0.…

Ajax Sporting Director Marc Overmars On Inter Linked Andre Onana: “If He Wasn’t Suspended & Had A Longer Contract He’d Be Worth More Than €30M”

July 29, 2021 00:30
( )

Ajax Sporting Director Marc Overmars has spoken about the situation of goalkeeper Andre Onana, with the Cameroonian linked with a move to Inter among other…

Inter Hope To Not Have To Be Without Roberto Gagliardini Longer That 15-20 Ways After Sustaining Injury, Italian Broadcaster Reports

July 28, 2021 23:56
( )

Inter are hoping that midfielder Roberto Gagliardini will not miss more than 15-20 days through a knee injury which he sustained in training during training…

Inter Coach Simone Inzaghi: “We Signed Calhanoglu To Play In Midfield, Will Be Beautiful When Bastoni, Barella & Lautaro Join Us Next Week”

July 28, 2021 23:49
( )

Inter head coach Simone Inzaghi has given an early appraisal of the Nerazzurri team and his expectations for the squad going into next season. Speaking…

Inter Want To Keep Youth Team Defender Andrea Moretti Amid Interest From Several Serie C Clubs, Italian Media Report

July 28, 2021 23:00
( )

Inter Primavera defender Andrea Moretti has attracted interest from clubs in Serie C, but the Nerazzurri are likely to keep him instead. This according to…

Close

Subscribe

to our newsletter