ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

China Evergrande shares tumble 17% after stock sale falls short

Private placement proceeds reach only half of developer's $1.1bn target

A person involved in China Evergrande Group's private stock sale on Tuesday said, “To call it a struggle to sell the shares is an understatement.”   © Reuters

HONG KONG -- Shares of China Evergrande Group, Asia's largest private-sector debtor, slumped on Wednesday after the company revealed it had sold only half as much stock as it had sought to during a private sale on Tuesday evening.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more