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.
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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.
