China's state-run tabloid "Global Times" reports that Chinese property developer Evergrande Group will sell 51% of its property service arm to rival company Hopson Development for US$5 billion. The report comes as both Hopson and Evergrande suspended trading in their shares on the Hong Kong Stock Exchange in the morning, pending an announcement about a "major transaction".
Chinese state-run tabloid "Global Times" reports that Chinese property developer Evergrande Group will sell 51% of its property service arm to rival company Hopson Development for US$5 billion. The report comes as both Hopson and Evergrande suspended trading in their shares on the Hong Kong Stock Exchange in the morning, pending an announcement about a "major transaction".
