Mubasher: China-based, Evergrande Group on Monday reduced the value of its debts through selling a stake in one of its subsidiaries, Hengda Real Estate at a value of CYN 60 billion ($9 billion).
After selling the stake, Evergrande’s stake in Hengda Real Estate will decrease to 63.5%, from 73.9%, according to a statement to Hong Kong Stock Exchange.
