Mar
01
Evergrande Pays HK$3.89 Billion for Shengjing Bank Stake
By-
Chinese developer acquired 5.59 percent stake on Feb. 29
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Evergrande paid HK$12.5 billion for Hong Kong tower last year
A subsidiary of Evergrande Real Estate Group Ltd. has paid HK$3.89 billion ($500 million) for a 5.59 percent stake in Shengjing Bank Co., in the latest purchase by the Chinese developer that is piling on debt for acquisitions.
Guangzhou-based Evergrande acquired 324 million shares, it said in a statement to the Hong Kong stock exchange on Monday. It bought 314 million shares through block trades and 10 million shares on the open market, according to the statement…
Evergrande Pays HK$3.89 Billion for Shengjing Bank Stake
