Chinese Property Tycoon to Sell Stake as Share Sales Ramp Up
- Country Garden’s Yang Huiyan to trim holding in services unit
- Seazen, CIFI announce plans to raise cash through sales
This article is for subscribers only.
The controlling shareholder of Country Garden Holdings Co. is selling a roughly $650 million stake in a unit amid a flurry of share sales by cash-strapped Chinese developers.
Billionaire Yang Huiyan agreed to sell 237 million shares of Country Garden Services Holdings Co. at HK$21.33, according to a statement to the Hong Kong stock exchange on Sunday. That represents a 10.9% discount to last week’s closing price.