Property News · October 17, 2017

Chinese developer Future Land’s US$650 million privatisation bid rejected by shareholders


Chinese billionaire developer Wang Zhenhua’s HK$5.1 billion (US$650 million) bid to take his Hong Kong-listed real estate company Future Land Development private failed after shareholders rejected the buy-back offer because they believed the company is worth more.
The property company scrapped its privatisation proposal after more than 10 per cent of individual shareholders voted against it, the company said during an extraordinary general meeting Tuesday morning.
“We respect the…

Source : South China Morning Post
Read more…Chinese developer Future Land’s US0 million privatisation bid rejected by shareholders