China Evergrande to raise $5 bln from property unit sale - Global Times

After headlines hit the wires earlier that Hong Kong’s Hopson Development, is planning to acquire about 51% of the Evergrande Real Estate deal of around HKD 40 billion, Global Times came out with a story offering additional details.

“Hopson Development was the buyer of a 51% stake in the property unit for more than HK$40 billion ($5.1 billion), Global Times reported, citing unspecified other media reports.

“Hopson said it had suspended trading in its shares, pending an announcement related to a major acquisition of a Hong Kong-listed firm and a possible mandatory offer.”

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