China Evergrande Group withdraws from all the remaining shares holding its holding of Shengjing Bank through judicial auctions. This is the latest measure to reduce debt in real estate developers in debt dilemma.
According to Bloomberg, the auction results disclosed by the Ali auction platform show that the 14.57%equity of Shengjing Bank held by Evergrande Group (Nanchang) Co., Ltd.At a reserve price of 7.3 billion yuan (RMB, Same as the same, S $ 1.476 billion), the auction was sold.
A person familiar with the matter revealed on Tuesday (6th) that the auction of the auction will continue to be used to repay Evergrande Group's debt on Shengjing Bank.Evergrande in China previously said that the subsidiary Evergrande Group (Nanchang) Co., Ltd. lost the case in a arbitration and was ruled that after repaying about 7.3 billion yuan, it was necessary to sell 1.28 billion shares of Shengjing Bank.
