China Evergrande to transfer $1.5 bln stake in Shengjing Bank to state firm

Shengjing Bank Co

29/09/2021 01:19

Sept 29 (Reuters) - Debt-laden China Evergrande Group
 3333.HK  said on Wednesday it planned to transfer 1.75 billion
shares of Shengjing Bank Co Ltd  2066.HK  for 9.99 billion yuan
($1.5 billion).
    The shares, representing 19.93% of the issued share capital
of the bank, will be transferred for 5.70 yuan apiece to
Shenyang Shengjing Finance Investment Group Co Ltd, a
state-owned enterprise involving in capital and asset
management, China Evergrande said in a filing to the Hong Kong
bourse.
    Beijing is prodding government-owned firms and state-backed
property developers to purchase some of embattled China
Evergrande Group's assets as the company teeters on the brink of
collapse, people with knowledge of the matter told Reuters this
week. urn:newsml:reuters.com:*:nL1N2QU37K
 

 (Reporting by Donny Kwok; Editing by Kim Coghill)
 ((donny.kwok@thomsonreuters.com; +852 2843 6470;))