Embattled property developer China Evergrande Group raised about HK$1.12 billion (US$144 million) by further selling down its stake in internet company HengTen Networks Group as it faces a cascading series of interest payments on its offshore debt.Evergrande sold 530 million shares in a series of sales since November 4, reducing its stake in Hong Kong-based HengTen from 26.55 per cent to 20.82 per cent, according to regulatory filings with the Hong Kong stock exchange.The world’s most indebted…
Source : South China Morning Post
Read more…Evergrande raises US4 million as it sells down stake in HengTen Networks
