Date
23 October 2017

Evergrande buys 3.3 bln yuan in Huaxia Bank shares, paper says

Evergrande Real Estate Group Ltd (03333.HK) has become Huaxia Bank’s (600015.CN) fourth-biggest stakeholder by buying around 403 million of the lender’s shares for 3.3 billion yuan (US$540.98 million) on the secondary market, the Shanghai Securities News reported Monday, citing an announcement by the property company. The shares bought through its subsidiary are equivalent to about 4.52 percent of Huaxia, the report said. Huaxia said it was not aware of the move and would watch developments closely.

– Contact HKEJ at [email protected]

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