China Developers Vanke, Poly to Issue Shares as Market Thaws (1)

Two of China’s biggest real estate developers confirmed plans to raise cash by selling shares, the latest funding efforts following the government’s easing of a clampdown on the debt-laden sector.

China Vanke Co. will raise $499 million in a Hong Kong share placement, its first in the Asian financial hub since 2020. State-run Poly Developments & Holdings Group Co. said the Shanghai stock exchange is reviewing its plans announced in December for an onshore private share sale of as much as 12.5 billion yuan ($1.8 billion).

The moves come amid a thawing of fund-raising conditions for Chinese developers as the ...