China Evergrande Group shares rose on Monday after it named a state firm official to its board, while two of its peers sold some assets to state-owned entities, amid hopes of growing government intervention to aid the crisis-hit property sector.
A partially removed company logo of China Evergrande Group is seen on the facade of its headquarters, near a traffic light in Shenzhen, Guangdong province, China January 10, 2022. REUTERS/David Kirton/Evergrande names official from China Cinda Asset Management unit to boardShimao trying to sell stake in same complex to COLI -mediaHONG KONG, Jan 24 - China Evergrande Group shares
rose on Monday after it named a state firm official to its board, while two of its peers sold some assets to state-owned entities, amid hopes of growing government intervention to aid the crisis-hit property sector. Evergrande's assets are expected to be taken over by state-owned firms in a restructuring led by the provincial government of Guangdong, where the developer is based, and the naming of an official from a unit of a state asset manager to its board could signal the restructuring was moving forward.Register now for FREE unlimited access to Reuters.com
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