Reuters reports, citing people with knowledge of the matter
The report says that Kaisa plans to sell its entire 67.18% stake in its property management unit (market value around $310 million) and putting up for sale two residential project sites in Hong Kong that it acquired last year.
This surely has to do with the debt problems faced by Kaisa as mentioned in the post above. As a reminder, Kaisa is only second to Evergrande in terms of having the most offshore debt due over the next year so this is likely to raise cash for that.
As such, expect to hear more of this name in the months ahead as China's property sector continues to come under pressure amid the ongoing liquidity crisis.
