Evergrande, which once was Shenjing Bank’s biggest shareholder, has sold its entire stake in the lender. Photo: VCG/VCG via Getty Images
Evergrande, which once was Shenjing Bank’s biggest shareholder, has sold its entire stake in the lender. Photo: VCG/VCG via Getty Images

Evergrande sells the last of its stake in Shengjing Bank to Chinese state firms for US$1 billion

  • The world’s most indebted developer sold 1.28 billion non-public shares, amounting to a 14.57 per cent stake, to a consortium comprising seven companies
  • The shares were sold through an auction arranged on Taobao

Evergrande, which once was Shenjing Bank’s biggest shareholder, has sold its entire stake in the lender. Photo: VCG/VCG via Getty Images
Evergrande, which once was Shenjing Bank’s biggest shareholder, has sold its entire stake in the lender. Photo: VCG/VCG via Getty Images
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