China Evergrande seeking up to $1.1 billion private share sale to trim debt load

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China Evergrande Group is seeking up to US$1.1 billion in a private share sale, accelerating efforts to shore up its balance sheet after a liquidity scare that rattled investors and local market regulators last month.

The world’s most indebted developer is offering 490 million shares in a top-up placement at HK$16.50 to HK$17.20 apiece (US$2.13 to US$2.22), a discount of 11.1 per cent to 14.7 per cent to Monday’s closing price at HK$19.34. The local market was shut on Tuesday . . .

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