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Evergrande shares trip after understanding to lift $273 million in a business sale

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The sale of HengTen is Evergrande’s latest bid to lift capital. The understanding is value 2.13 billion Hong Kong dollars ($273.2 million), with 20% — or $54.6 million — due within 5 business days, and a rest in dual months, a filing said.

The developer pronounced it reached an agreement Wednesday to sell about 1.66 billion HengTen shares to Allied Resources Investment Holdings for 1.28 Hong Kong dollars each, according to a filing with a Hong Kong batch exchange.

That’s about 24% next HengTen’s shutting cost Wednesday of 1.69 Hong Kong dollars a share.

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The transaction represents about 18% of HengTen’s released shares. An Aug. 1 filing showed a Tencent auxiliary concluded to buy 7% of a association from an Evergrande auxiliary in a understanding value 2.07 billion Hong Kong dollars.

HengTen’s auxiliary Ruyi Films was one of a producers of “Hi, Mom,‘’ a strike pierce in China progressing this year. It grossed 5.41 billion yuan, or about $838 million during a time, creation it a top-grossing film by a womanlike director, according to Chinese ticketing height Maoyan.

Evergrande was founded in a late 1990s as a genuine estate developer, before expanding into industries such as new appetite vehicles, life word and open water.

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