Evergrande transferred shares to a subsidiary of Shenyang Municipal State-owned Assets Administration Commission and became the largest shareholder

China Evergrande: The board of directors announced that on September 28, 2021, a wholly-owned subsidiary of the Company, as the transferor, signed an agreement with the transferee to hold 1,753,157,895 non-tradable domestic shares of Shengjing Bank at a consideration price of RMB 5.7 per share, for a total of RMB 9,993 billion, accounting for 19.93% of the issued shares of Shengjing Bank to the transferee.
China Evergrande said on Wednesday it plans to sell a 9.99 billion yuan ($1.5 billion) stake it in Shengjing Bank Co Ltd to a state-owned asset management company as it scrambles to Raise funds. Shengjing Bank had that all net benefits from the applied to settle the relevant financial liabilities of the group due to Shengjing Bank, Evergrande said.
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