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China Evergrande, the country's largest real estate developer, is seeking to raise money from mainland stock investors to fund its capital-hungry electric vehicle venture and fuel its ambition of overtaking Tesla over the next five years.
Hong Kong-listed unit China Evergrande New Energy Vehicle Group has proposed to sell yuan-denominated shares on the Star Market, the Nasdaq-style board of the Shanghai Stock Exchange, according to an exchange filing on Friday.
The secondary listing is pending regulatory approval, it said without providing further details.
The move comes . . .
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