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Added on the 16/09/2016 08:38:44 - Copyright : Wochit
Shanghai, Sep 29 (EFE/EPA).- Chinese real estate giant Evergrande on Wednesday announced it would sell a 19.93 percent stake in commercial Shengjing Bank to a state-owned conglomerate for 9.99 billion yuan ($1.55 billion).After the transaction, its stake in Shengjing Bank will drop from 34.5 percent to 14.57 percent, Evergrande said in a statement sent to the Hong Kong Stock Exchange.Evergrande will transfer 1.75 billion non-publicly traded domestic shares to the buyer at a unit price of 5.7 yuan. (Camera: ARCHIVE). ARCHIVE FOOTAGE OF THE EVERGRANDE CENTER IN SHANGHAI, CHINA.
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