Evergrande Raises $1.4 Billion Selling Shares in EV Unit

(Bloomberg) — China Evergrande Group raised about HK$10.6 billion ($1.4 billion) selling shares in its electric vehicle unit, helping to bolster capital in the indebted developer.

The share sale amounts to about 2.7% of outstanding shares in China Evergrande New Energy Vehicle Group Ltd., the real estate firm said in a filing to the Hong Kong stock exchange on Thursday.