China’s largest property developer, Evergrande revealed its holding in housebuilder Vanke was sold to Shenzhen Metro Group for 29.2 billion yuan on Friday. Photo: Reuters

Vanke stake sale smooths way for Evergrande’s much-prized Shenzhen IPO, despite US$1b hit

Market watchers believe Guangdong property giant has reached tacit agreement with Shenzhen government, meaning the city’s policymakers will support Evergrande’s debut on the local stock exchange

Topic |   China Vanke

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China’s largest property developer, Evergrande revealed its holding in housebuilder Vanke was sold to Shenzhen Metro Group for 29.2 billion yuan on Friday. Photo: Reuters
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