Property News · December 19, 2016

China Vanke shares tumble after restructuring plan falls flat


Shares of China Vanke, the country’s largest homebuilder which is embroiled in a long-running takeover tussle, slumped on Monday as the firm scrapped a “white knight” plan after a leading contender declared it had no intention to control the company.
Vanke fell 6.06 per cent in Shenzhen to 21.10 yuan while its Hong Kong shares dipped 3.21 per cent to HK$18.72 by the close on Monday.
The share tumble came after Vanke decided to drop a plan to introduce state-owned Shenzhen…

Source : South China Morning Post
Read more…China Vanke shares tumble after restructuring plan falls flat

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