Evergrande scraps $3.5b unit stake sale as Chinese officials seek to calm nerves

October 21, 2021 6:44 AM

HONG KONG/SHANGHAI (REUTERS) – Teetering Chinese property giant China Evergrande formally abandoned plans to sell a US$2.6 billion (S$3.5 billion) stake in one of its key units on Wednesday, as Beijing officials went out in force to say the problems would not spin out of control.

Source : http://www.straitstimes.com/business/property/evergrande-scraps-35b-unit-stake-sale-as-chinese-officials-seek-to-calm-nerves