Evergrande Auto, the automobile manufacturer under Chinese real estate developer Evergrande Group, announced on Wednesday that it had signed an agreement with its placement agent on Tuesday.
Chinese property developer Evergrande Group successively sold its shares in HengTen Networks on November 4 and 5, cashing out about HKD 717 million ($92.1 million) in total and lowering its shareholding ratio from 26.55% to 22.98%.
Six executives of the heavily indebted China Evergrande Group have fully returned funds from early redemptions of the company's investment products before Friday, the property group said Saturday.
Many Evergrande Auto employees said their department has asked them to take leave after China's seven-day National Day Holiday until October 31st.
Scrambling to avoid defaulting on its debts, cash-strapped China Evergrande Group on Wednesday announced it would sell off a 9.99 billion yuan ($1.5 billion) stake in Shengjing Bank.