Property News · August 10, 2021

Asset-sale report spurs US$3.5 billion rally in China Evergrande companies as billionaire seeks to steady ship


Shares of companies in the China Evergrande group recorded some of their biggest rallies this year, restoring more than US$3.5 billion of market value, following a report saying the developer was preparing to sell assets to boost its liquidity.The group was in discussions with state-owned and private companies to sell its stakes in its electric car and property management units, according to a Reuters report. It was also seeking buyers for its urban renewal projects in Shenzhen, the report said…

Source : South China Morning Post
Read more…Asset-sale report spurs US.5 billion rally in China Evergrande companies as billionaire seeks to steady ship