HONG KONG—Chairman Hui Ka Yan’s shareholding in embattled China Evergrande Group has dropped to 59.78 percent from 61.88 percent, Hong Kong stock exchange filings showed, in a forced selling by a third party to whom the shares were pledged.
The sale involved277.8 million shares, worth roughly HK$492 million ($63.08 million) based on the stock’s Friday closing price of HK$1.77 ($0.23).
