The Evergrande Group, China’s second-largest property developer by sales, said in an announcement that its indirect subsidiary Evergrande Real Estate has signed a capital increase agreement with six strategic investors to introduce a 60-billion-yuan third round investment, Yicai.com reported.
The total amount of the three investments is 130 billion yuan (US$19.59 billion). Xia Haijun, the vice chairman of the board, said it was the last introduction of strategic investors, and the company will then prepare to go public.
The third round investors will account for about a 14.11% stake after they complete the capital injection with a pricing of 365.11 billion yuan.
The investors include Sunning, one of the largest retailers in China, which bought a 4.7% share for 20 billion yuan.