Chinese Estates Holdings Ltd said it’s selling its holdings in a mainland bank to the wife of its former chairman, part of the programme by Hong Kong property magnate Joseph Lau Luen-hung to disburse his fortunes amid deteriorating health.
The property company will sell 577.18 million shares of Shengjing Bank Co., representing 37.5 per cent of the Shengyang-based lender, to Lau’s wife Chan Hoi-wan.
The sale of the stake will generate a one-time gain of about HK$2.24 billion, Chinese…
Source : South China Morning Post
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