Category: Chinese Estates

Evergrande Backer Chinese Estates’ Stock Soars on Take-Private Offer

October 7, 2021
Business & EconomyChinaChina Business & Economychina evergrandeChinese EstatesdeveloperEconomiesprivate
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HONG KONG—Shares of Chinese Estates Holdings, a former major shareholder of embattled developer China Evergrande, jumped as much as 32 percent on Thursday after it announced an offer to be taken private for $245 million. The Hong Kong developer said on Wednesday the family of Chinese Estates’ biggest shareholder, Joseph Lau, had proposed to take…

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Evergrande’s Major Shareholder Projects Over $1 Billion Loss

September 24, 2021
Business & EconomyChinaChina Business & Economychina debt crisisChinese EstatesCompaniesevergrandeMarkets
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Chinese Estates Holdings, the second-biggest shareholder of Evergrande, projected a loss of over $1 billion this year after selling out the entire stake of the debt-ridden developer. China Estates announced on Thursday that it recently reduced its stake in Evergrande to about 5.7 percent from nearly 6.5 percent. It was seeking shareholder approval to sell the remainder. …

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