Evergrande's shares rise on capital injection

Shares of Guangzhou-based property conglomerate China Evergrande Group gained 2.48 percent to end at HK$4.95 (64 cents) on Tuesday, after announcing a day earlier that its subsidiary Hengda Real Estate has secured a 30-billion-yuan ($4.3 billion) investment from eight investors.

According to an official statement from the company, Hengda Real Estate signed an agreement on Dec 30 with the investors who will make the investment in exchange for 13.16 percent of the company shares after the capital increase.

"The capital injection will serve to raise funds as well as to allow the group to maintain the public float of Shenzhen Real Estate upon completion of the proposed reorganization," Evergrande said in a statement on Monday.