World's most indebted developer in another fight

Hong Kong

THE world's most indebted developer is duking it out with short-sellers again.

China Evergrande Co has spent HK$6.3 billion (S$1.1 billion) in a buyback spree since March 29, two days after short interest started climbing from a trough. Such battles between Evergrande and bearish investors have played out before - and once again the developer is coming out on top.