Property developer China Evergrande shares jump on unit's fundraising plan


Debt-laden property developer China Evergrande jumped more than 8% on Monday after its electric vehicles unit said it would raise $3.4 billion by bringing in six new investors, a move that analysts said could ease the group’s financing woes.

Investors have been concerned about cashflow at Evergrande as the country’s most indebted property developer with interest-bearing indebtedness of about $110 billion at the end of last year scrambles to raise funds and cut debt in the face of tighter industry regulations.

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