Property News · November 6, 2017

China Evergrande raises another US$9bn to cut debt ahead of Shenzhen listing


China Evergrande Group, the country’s largest property developer by sales, has raised another 60 billion yuan (US$9 billion) from strategic investors as it looks to further reduce debt ahead of the listing of its property arm, Hengda Real Estate, on the Shenzhen Stock Exchange.
The latest funding, the third round this year, has brought the total amount the company has raised to 129.5 billion yuan through the sale of a total stake of 36.54 per cent of Hengda, according to a company…

Source : South China Morning Post
Read more…China Evergrande raises another USbn to cut debt ahead of Shenzhen listing

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