(Yicai Global) Nov. 9 -- Shenzhen Special Economic Zone Real Estate & Properties Group fluctuated sharply following a four-year suspension and after China Evergrande Group, the country’s largest real estate company, dropped its bid to restructure and reverse merge with it to finesse a backdoor listing in Shenzhen.

Investors apparently differed on the ramifications of the termination of the restructuring plan and thus Shenzhen Special Economic Zone Real Estate shares [SHE:000029] rose 0.28 percent to close at CNY10.84 (USD1.64) after rising 10 percent to the daily price ceiling from a CNY10.35 opening, or down 7.34 percent. Evergrande shares [HKG:3333] closed 1.94 percent up at HKD16.80 (USD2.17) at noon.

Current market environment conditions are still unripe for continuing with this major asset restructuring, Evergrande, the country’s largest real estate company said. It will thus abort the restructuring attempt, thus ending a four-year quest to backdoor list its real estate business, the two firms separately announced yesterday.

Editor: Ben Armour, Xiao Yi