World's Most Indebted Developer Battles Short-Sellers Again
- Evergrande spends HK$6.3 billion on share buybacks this year
- Share surge may help developer’s backdoor listing on mainland
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The world’s most indebted developer is duking it out with short-sellers again.
China Evergrande Co. has spent HK$6.3 billion ($808 million) in a buyback spree since March 29, two days after short interest started climbing from a trough. Such battles between Evergrande and bearish investors have played out before -- and once more the developer is coming out on top.