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Evergrande shares slip after deal to raise $273 million in a business sale
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BEIJING — Indebted property developer China Evergrande is set to raise about $273 million by selling its remaining shares in film production and streaming company HengTen Networks, according to a filing released ahead of the market open Thursday.
Shares of Evergrande fell more than 1% in morning trade Thursday. HengTen shares jumped 23%.
Evergrande, the largest issuer of U.S. dollar-denominated debt among Chinese real estate developers, has teetered on the edge of official
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