Evergrande has managed to trim its debt to about 570 billion yuan (US$87.7 billion) from a peak of 870 billion yuan in 2020. Photo: Reuters Evergrande has managed to trim its debt to about 570 billion yuan (US$87.7 billion) from a peak of 870 billion yuan in 2020. Photo: Reuters
Evergrande has managed to trim its debt to about 570 billion yuan (US$87.7 billion) from a peak of 870 billion yuan in 2020. Photo: Reuters
Tencent

Internet company HengTen Networks’ shares surge as indebted China Evergrande sells US$418 million stake

  • The world’s most heavily indebted property developer will sell a 7 per cent stake to internet giant Tencent and a 4 per cent stake to an unidentified buyer
  • The deal may help Tencent ‘protect its existing investment from further turmoil related to Evergrande’s finances,’ says a Bloomberg analyst

Topic |   Tencent
Evergrande has managed to trim its debt to about 570 billion yuan (US$87.7 billion) from a peak of 870 billion yuan in 2020. Photo: Reuters Evergrande has managed to trim its debt to about 570 billion yuan (US$87.7 billion) from a peak of 870 billion yuan in 2020. Photo: Reuters
Evergrande has managed to trim its debt to about 570 billion yuan (US$87.7 billion) from a peak of 870 billion yuan in 2020. Photo: Reuters
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