Fantasia, the Chinese property company, has had the sale of four apartments blocked by authorities, the latest developer in Shenzhen to come under scrutiny after Kaisa defaulted last week.
The move by the Urban Planning Land and Resources Commission of Shenzhen Municipality sent bond prices to a record low along with its share performance.
Fantasia’s outstanding debt instruments maturing in 2020 and 2019 were trading at a cash price of 73.537 and 77.661 by Thursday noon, their record lowest levels as a result, according to Bloomberg data. This is down from their year-end levels of 84.41 and 85.64 respectively.
Meanwhile, the property company’s shares...
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