China’s Biggest Homebuilder Raises Capital in Scramble to Pay Debts

China's biggest homebuilder, Country Garden, plans to raise $34 million by issuing new shares in a bid to alleviate its $190 billion debt burden and address the country's expanding real estate crisis.

nytimes.com

Relevant topic timeline:

8/28/2023

Shares of Country Garden set to rise after it sells stake in development

Shares of Country Garden are expected to increase by 14.8% after selling a minority stake in a mixed development in Guangzhou for 1.3 billion yuan ($178.35 million) and extending a creditor voting deadline to delay repayment for an onshore private bond worth 3.9 billion yuan.

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