Funding plan lifts shares of Evergrande

Property company inks capital infusion agreements with 6 strategic investors

Shares of Evergrande Group, a mainland property developer, rose 9.38 percent on Tuesday after it said it would sell 60 billion yuan ($9.04 billion) worth of stocks in its property assets business that is slated for a backdoor listing in Shenzhen.

The Guangzhou-based company said on Monday evening that it had signed a capital infusion agreement with six strategic investors, to finance its real estate business.