Hong Kong The heavily indebted real estate company China Evergrande is selling its shares in the film and television streaming company HengTen Network to service liabilities for the equivalent of $ 273.5 million. The real estate giant is selling the 1.66 billion shares at a price of $ 0.16 per share at a discount of 24 percent compared to Wednesday’s closing price, according to documents from the Hong Kong stock exchange on Wednesday.
Chinese media refer to HengTen as the country’s Netflix. 20 percent of the purchase price is due within five working days of the date of the agreement, the rest should be settled within two months, said Evergrande.