Shares in China Evergrande jumped by the most this year after the debt-laden property developer offered a rare reprieve to investors by dangling the prospect of a surprise dividend payment.
Evergrande is one of China’s biggest corporate borrowers on international markets and is helmed by tycoon Hui Ka Yan, once China’s richest man.
The billionaire and his company have been under immense investor scrutiny over how Evergrande will meet requirements by Beijing for sweeping leverage reductions across the property sector after years of aggressive debt-fuelled expansion.
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