SHANGHAI: The billionaire owner of Country Garden Holdings Co is selling a stake in a unit to raise about US$650mil (RM2.86bil) amid a flurry of share sales by cash-strapped Chinese developers.
Yang Huiyan agreed to sell 237 million shares of Country Garden Services at HK$21.33 (RM12), according to a statement to the Hong Kong stock exchange. That represents a 10.9% discount to the latest closing price.
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