China's Country Garden looking to sell CXMT stake for $276m

China's Country Garden looking to sell CXMT stake for $276m

FILE PHOTO: The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo

Debt-laden property developer Country Garden’s venture capital arm is looking to sell its stake in Chinese chipmaker ChangXin Memory Technologies for 2 billion yuan ($276.30 million), Bloomberg News reported on Friday.