Shares in heavily indebted China Evergrande Group were taken off the Hong Kong Stock Exchange on Monday, capping a grim reversal of fortune for the once-booming property developer.

A committee at the bourse had decided earlier this month to cancel Evergrande’s listing after it failed to meet a July deadline to resume trading — suspended since early last year.

The delisting on Monday marks the latest milestone for a firm whose painful downward spiral has become symbolic of China’s long-standing property sector woes.

Once the country’s biggest real estate firm, Evergrande was worth more than $50 billion at its peak and helped propel China’s rapid economic growth in recent decades.

But it defaulted in 2021 after years of struggling to repay creditors.

A Hong Kong court issued a winding-u

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