Reported 4 months ago
Country Garden Holdings Co.'s venture capital arm is exploring the sale of its stake in Chinese chipmaker ChangXin Memory Technologies Inc. for around 2 billion yuan as the property developer grapples with a heavy debt burden and creditor threats. Country Garden Venture Capital is seeking capital to address its financial challenges, while CXMT faces delays in its IPO plans and potential US sanctions. The company recently raised funds in a financing round amidst China's efforts to boost semiconductor self-sufficiency.
Source: YAHOO