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Shares of Country Garden set to rise after it sells stake in development

Published 08/27/2023, 09:32 PM
Updated 08/27/2023, 09:35 PM
© Reuters. FILE PHOTO: The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo
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HONG KONG (Reuters) - Shares of Country Garden are set to rise 14.8% on Monday after it sold a minority stake in a mixed development in Guangzhou for 1.3 billion yuan ($178.35 million).

© Reuters. FILE PHOTO: The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo

On Friday, it also extended a creditor voting deadline to Aug. 31 to delay repayment for an onshore private bond worth 3.9 billion yuan, a filing seen by Reuters showed.

($1 = 7.2890 Chinese yuan)

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