Today news
About the same in other media
Evergrande shares slip after deal to raise $273 million in a business sale
Reading now: 651
cnbc.comIn this article
BEIJING — Indebted property developer China Evergrande is set to raise about $273 million by selling its remaining shares in film production and streaming company HengTen Networks, according to a filing released ahead of the market open Thursday.
Shares of Evergrande fell more than 1% in morning trade Thursday. HengTen shares jumped 23%.
Evergrande, the largest issuer of U.S. dollar-denominated debt among Chinese real estate developers, has teetered on the edge of official default this year. The company has made 11th hour payments and resumed construction on apartments owed to buyers. But that's only a fraction of what the developer owes.
The sale of HengTen is Evergrande's latest effort to raise capital. The deal is worth
Read more on cnbc.comAbout this in other media
NFT game Guild of Guardians raises $5.3M, token sale oversubscribed 82X cointelegraph.com /2 years ago
Lego gives its 20,000 employees three days extra holiday after profits rise 140% theguardian.com /2 years ago
Shares of Chinese real estate developer Kaisa pop 20% after debt restructuring plan cnbc.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
