Heavily indebted Chinese real estate group Evergrande raised 124 million euros ($143 million) by selling a stake in an Internet services company days before interest payments were due, according to stock data.
(Keys to understand the Evergrande crisis and its impact on the markets).
Evergrande managed to sell a 5.7% stake for a total of 1,120 million Hong Kong dollars (124 million euros) in HengTen Networks Group, according to data published by the Hong Kong stock market, where the group is listed.
(Evergrande sells stake in bank, but its situation does not improve).
Evergrande faces the end of a month-long grace period for a $128 million dollar bonus payment on Wednesday.
The heavily indebted group has been looking for a way to get rid of its assets for several months to stay afloat. The company, whose debt is estimated at 260,000 million euros, is one of the largest real estate developers in China.
AFP
