Shares of Guangzhou R&F Properties tumbled by more than 3 per cent after a report that the developer had pledged its stakes in three companies with US$10 billion in combined assets to a unit under the Guangzhou city authorities to meet government limits on debt exposure.The pledges to Guangzhou City Construction Investment Group comprise a 25 per cent stake in Sheungjin Real Estate Development, which owns the six-year-old office project Yingkai Square in Tianhe district; 50 per cent of…
