Evergrande Key Shareholder Sells Another $11 Million Amid Crisis
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Chan Hoi Wan, the wife of billionaire Joseph Lau, sold another HK$87.5 million ($11.2 million) worth of shares in China Evergrande Group, underscoring investor concern over the Chinese developer’s escalating troubles.
Chan sold 24.4 million shares at an average price of HK$3.58 each last Friday, according to a Hong Kong exchange filing. That reduced her stake in the real estate company to 7.96% from 8.15%.