Shares of China Evergrande's EV unit soar after liquidators' stake sale deal

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Shares of China Evergrande's EV unit soar after liquidators' stake sale deal
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HONG KONG - Shares of China Evergrande New Energy Vehicle Group more than doubled on Monday as trade resumed after the company said liquidators had agreed on behalf of key shareholders to sell a stake in the electric vehicle maker.

The three collectively hold 58.5% of the cash-strapped EV unit, whose factory in the northern city of Tianjin stopped production at the start of 2024.

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