Evergrande boosts Shengjing Bank stake for $1.5b

The Chinese property developer has agreed to acquire a further 17.28% stake in Shengjing Bank, continuing its buying spree in the face of mounting debt.

Chinese property developer Evergrande Real Estate has agreed to acquire a further 17.28% stake in Shengjing Bank for Rmb10 billion ($1.5 billion), continuing its buying spree in the face of mounting debt.

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