Evergrande Shares Halted Amid Report of Unit Stake Sale
- Trading suspended pending announcement on ‘major transaction’
- Hopson Development plans to buy stake in unit, Cailian reports
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China Evergrande Group and its property-services arm were halted in Hong Kong stock trading amid a report that the developer agreed to sell a controlling stake in the unit to raise much-needed cash.
Trading of Evergrande was suspended pending an announcement on a “major transaction,” the developer said Monday in a stock exchange filing. Evergrande Property Services Group Ltd. said it was halted before an announcement on a possible offer of shares in the company.