Shares of Country Garden set to rise after it sells stake in development

HONG KONG (Reuters) – Shares of Country Garden are set to rise 14.8% on Monday after it sold a minority stake in a mixed development in Guangzhou for 1.3 billion yuan ($178.35 million).

On Friday, it also extended a creditor voting deadline to Aug. 31 to delay repayment for an onshore private bond worth 3.9 billion yuan, a filing seen by Reuters showed.

($1 = 7.2890 Chinese yuan)

(Reporting by Clare Jim; Editing by Jacqueline Wong)