An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018.
Bobby Yip | Reuters
The sale of HengTen is Evergrande’s latest effort to raise capital. The deal is worth 2.13 billion Hong Kong dollars ($273.2 million), with 20% — or $54.6 million — due within five business days, and the rest in two months, the filing said.
The developer said it reached an agreement Wednesday to sell about 1.66 billion HengTen shares to Allied Resources Investment Holdings for 1.28 Hong Kong dollars each, according to a filing with the Hong Kong stock exchange.
That’s about 24% below HengTen’s closing price Wednesday of 1.69 Hong Kong dollars a share.