Country Garden's (HKG:2007) controlling shareholders proposed to convert half of a $1.1 billion shareholder loan into the property developer's shares and the remaining half into a 60% stake in a project in Malaysia, The Standard reported Tuesday.
The Chinese developer holds a 60% indirect stake in the Forest City project in Malaysia, a co-development with Malaysian developer KPRJ, according to the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.