HONG KONG (Reuters) – Hong Kong shares of China Evergrande Group rose more than 10% after the property developer said all measures to reduce debt had achieved positive and notable results.
Evergrande also said the Hong Kong stock exchange had approved its plan to spinoff its property management business.
Investors sold off China Evergrande’s shares and bonds on Friday after a leaked document showed the nation’s second-biggest property developer by sales had sought government help to avert a cash crunch.
(Reporting by Donny Kwok; Editing by Kim Coghill)
