Country Garden Holdings Company (HKG:2007) transferred around 135.6 million shares to a broker for sale, according to a Hong Kong bourse filing Monday.
Proceeds from the sale will go to CoCom, a group representing 49% of the firm's outstanding syndicated loans.
Country Garden said the shares transferred represent 0.48% of its issued share capital and would be sold at HK$0.40 apiece.
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