Property News · January 12, 2017

Vanke trading suspended as report suggests lead shareholder China Resources to sell its stake to Shenzhen Metro


China Resources is to sell its shares in housebuilder China Vanke to state-backed subway operator Shenzhen Metro Group, according to a report on website Tencent Finance, citing two unnamed sources.
The report came three hours after trading in Vanke, the country’s second largest homebuilder, was suspended at 9am on Wednesday morning after it had revealed a “substantial shareholder” was coming up with a plan relating to its stake in the housebuilder.
The announcement immediately…

Source : South China Morning Post
Read more…Vanke trading suspended as report suggests lead shareholder China Resources to sell its stake to Shenzhen Metro