A major shareholder of China’s real estate developer Evergrande Group has sold an additional HK $ 87.5 million worth of shares in the company. It highlighted investor concerns over the issue of Evergrande in China.
Chen Kaiyun
The shareholder is Mr. Chan Hoi Wan, the wife of Hong Kong millionaire Joseph Lau. According to a filing with the Hong Kong Stock Exchange, Mr. Chen sold 24.4 million shares for an average of HK $ 3.58 per share on the 10th. With this sale, his shareholding ratio dropped from 8.15% to 7.96%.
Mr. Chen has sold the shares of Evergrande in China at least for the second time in the past month. Her husband, Mr. Liu, has a long-standing relationship with the company’s founder, Mr. Xu Jiayin. In early September, Chen, who is also the CEO of Hong Kong’s real estate company, Chinese Evergrande Group, announced in early September that he and his husband would continue to support the development of China’s Evergrande as a shareholder.
news-rsf-original-reference paywall">Original title:
Evergrande Key Shareholder Sells Another $11 Million Amid Crisis（抜粋）
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