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China Evergrande Group surges on stake sale of property unit
Published Tue, Nov 7, 2017 · 09:50 PM
Shanghai
CHINA Evergrande Group, Asia's hottest stock, raised US$9 billion from selling a stake in a property unit, exceeding its previous guidance for the fundraising and providing more fuel for a rally that has crushed short-sellers.
The residential developer, which has projects across mainland China, surged as much as 8.5 per cent in Hong Kong on the 60 billion yuan (S$12.3 billion…
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