Billionaire Hui Ka-yan needs all the help he can get to shore up confidence in his beleaguered China Evergrande Group. Instead, insider selling by one of his lieutenants is causing its stock to wobble anew.Xia Haijun, vice-chairman and chief executive of the Shenzhen-based developer, sold about HK$115.6 million (US$14.8 million) worth of stakes in the group’s electric-car making unit and property management arm on August 11, according to stock exchange shareholding data.He sold 3 million shares…
Source : South China Morning Post
Read more…As China Evergrande shores up finances, key insider cuts stakes in units
