Country Garden Holdings is China’s largest property developer by sales.
It plans to take advantage of new government support measures to raise more money, circa HK$3.87 bn (which is about half a bn USD) worth.
Plans new share sales. Proceeds, apparently, will be directed towards repaying offshore debts.
Property stocks have been on the up since the government announced new measures to prop us the sector. The latest was a a 16-point plan encouraging financial institutions to step up credit support for developers.