Evergrande makes $5.8b in unit sale
China Daily | Updated: 2017-06-02 08:40
SHANGHAI - China Evergrande Group has raised 39.5 billion yuan ($5.8 billion) from selling a stake in a residential property company.
The decision was part of a reorganization by one of the country's biggest real estate companies ahead of a planned backdoor listing in the mainland.
Evergrande's shares jumped as much as 8.6 percent after analysts confirmed the sale price exceeded expectations.
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