Here is why Evergrande is selling its stake in Shengjing Bank

Embattled Chinese property developer Evergrande (HKG: 03333) is planning to sell a $1.5 billion interest in Shengjing Bank (HKG: 02066) ahead of its interest payment deadline. The real estate giants will sell the stake to a state-owned property management company. Evergrande is mired with a debt of over $300 billion, and it has been unable […]