Property News · July 12, 2019

Chinese Estates’ Joseph Lau pockets US$2 million paper gain after buying shares of troubled developer Future Land


Joseph Lau Luen-hung, the Hong Kong billionaire owner of Chinese Estates Holdings, is estimated to have pocketed HK$15 million (US$1.9 million) of paper gains in a week through an astute punt in one of China’s biggest real estate developers.Fair Eagle Securities, a wholly-owned unit of Chinese Estates, bought nearly 40.9 million shares of Future Land Development Holdings on the Hong Kong stock exchange at HK$7.19 per share on July 4, according to the Hong Kong stock exchange’s CCASS…

Source : South China Morning Post
Read more…Chinese Estates’ Joseph Lau pockets US million paper gain after buying shares of troubled developer Future Land