More Strategic Investments to Strengthen China Evergrande Balance Sheet, Limited Impact on Earnings
China Evergrande Group, or Evergrande, announced that it has secured a third round of strategic investors. The investors agreed to subscribe CNY 60 billion for new capital in Evergrande's onshore entity Hengda Real Estate, representing 14.11% of the enlarged equity of the entity. After this round of investment, Evergrande will hold 63.46% equity interest in the entity, with three rounds of strategic investors collectively holding the remaining. The additional equity investment will allow Evergra...China Evergrande Group is an investment holding company. Through its subsidiaries, Co. is engaged in property development, property investment, property management, property construction and other property development related services in the People's Republic of China (which include resort complexes with hotels, sports arenas, and other tourist-related activities). Co.'s operations are organized along four business segments: property development, property investment, property management and other businesses. Co.'s other businesses include property construction and other property development related services.
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