China: Evergrande tycoon's new banker is the 'queen of shell companies'

She’s best known as the “Queen of shell companies,” a financier who briefly became Hong Kong’s richest woman by striking deals in some of the wildest corners of the city’s stock market.

Now Pollyanna Chu has a new role: investment banker for embattled China Evergrande Group billionaire Hui Ka Yan.

Chu’s Kingston Securities was the sole manager of two share sales last month by Evergrande’s electric-vehicle unit, helping the company raise more than $400 million despite a liquidity crisis that drove down its stock 90% this year. Kingston also likely played a role in Hui’s sale of a $344 million personal stake