Ping An Insurance (Group), China’s largest insurer by market value, has become the largest shareholder of China Fortune Land Development, raising hopes the developer will survive its liquidity crisis following a debt default.The group overtook China Holdings as the single largest holder of the cash-strapped developer after the latter trimmed its ownership to 24.92 per cent from 25.82 per cent in a debt restructuring exercise, according to a Shanghai Stock Exchange filing late Thursday. The Ping…
Source : South China Morning Post
Read more…Ping An Insurance becomes top holder of cash-strapped China Fortune Land, raising survival hopes















