Evergrande Group's office building in Shenzhen. Photo: AFP

The Evergrande Group, China’s second-largest property developer by sales, has invested HK$286 million (US$36.46 million) to repurchase 14.129 million shares of the company, accounting for 0.107% of the firm’s total shares, The Paper reported.

The repurchase price is between HK$19.32 to 20.8 per share. It is the first time in 2018 for the company to carry out a repurchase.

Last year, it repurchased company shares nine times for a total of HK$6.3 billion in a month.

On the same day, the real estate developer disclosed its sales data for the first six months, reporting a total of 304.18 billion yuan in sales, for an average selling price of 10,468 yuan per square meter.

The company reported a closing price of HK$20.75 per share as of July 3, up 3.75% from the previous day.

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