{"id":122173,"date":"2021-09-23T12:45:18","date_gmt":"2021-09-23T05:45:18","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-estates-cuts-its-losses-heads-for-exit-after-12-years-as-evergrandes-staunchest-ally-and-second-largest-shareholder\/"},"modified":"2021-09-23T13:18:48","modified_gmt":"2021-09-23T06:18:48","slug":"chinese-estates-cuts-its-losses-heads-for-exit-after-12-years-as-evergrandes-staunchest-ally-and-second-largest-shareholder","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-estates-cuts-its-losses-heads-for-exit-after-12-years-as-evergrandes-staunchest-ally-and-second-largest-shareholder\/","title":{"rendered":"Chinese Estates cuts its losses, heads for exit after 12 years as Evergrande\u2019s staunchest ally and second-largest shareholder"},"content":{"rendered":"


\nChina Evergrande Group\u2019s second-largest shareholder Chinese Estates Holdings has dumped a major chunk of Evergrande shares at a loss and signalled the potential sale of its entire stake, as the staunchest ally that kept the world\u2019s most indebted property developer afloat heads for the exit amid a debt crackdown.Chinese Estates posted a loss of HK$1.38 billion (US$177.2 million) after selling 108.9 million Evergrande shares in the open market for HK$246.5 million, or HK$2.26 each on average from\u2026
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\nSource : South China Morning Post
\nRead more…Chinese Estates cuts its losses, heads for exit after 12 years as Evergrande\u2019s staunchest ally and second-largest shareholder<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

China Evergrande Group\u2019s second-largest shareholder Chinese Estates Holdings has dumped a major chunk of Evergrande...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-122173","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vMx","jetpack-related-posts":[{"id":122056,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/evergrandes-staunchest-allies-drop-out-as-chinese-property-developers-creditworthiness-deteriorates-amid-debt-woes\/","url_meta":{"origin":122173,"position":0},"title":"Evergrande\u2019s staunchest allies drop out as Chinese property developer\u2019s creditworthiness deteriorates amid debt woes","date":"September 17, 2021","format":false,"excerpt":"\r Two of the property magnate Hui Ka-yan\u2019s staunchest allies appear to be bailing out of China Evergrande Group, selling a large chunk of the developer\u2019s stock ahead of a gathering storm and deteriorating credit ratings over US$300 billion in liabilities.Joseph Lau Luen-hung, the founder of Hong Kong developer Chinese\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121478,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-estates-run-by-family-of-fugitive-tycoon-joseph-lau-swings-from-interim-profit-to-loss-as-its-evergrande-shares-plummet\/","url_meta":{"origin":122173,"position":1},"title":"Chinese Estates, run by family of fugitive tycoon Joseph Lau, swings from interim profit to loss as its Evergrande shares plummet","date":"August 16, 2021","format":false,"excerpt":"\r Chinese Estates Holdings, a Hong Kong developer controlled by the family of fugitive property tycoon Joseph Lau Luen-hung, has swung from profit to loss after getting burned by stock market investments including China Evergrande\u2019s plummeting shares.The company posted an interim loss of HK$35.5 million (US$4.56 million) for the six\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":125591,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-estates-reports-us447-million-loss-for-2021-as-costs-of-china-evergrande-friendship-mount\/","url_meta":{"origin":122173,"position":2},"title":"China Estates reports US$447 million loss for 2021 as costs of China Evergrande friendship mount","date":"March 21, 2022","format":false,"excerpt":"\r Chinese Estates Holdings, a major ally of heavily-indebted Chinese developer China Evergrande Group controlled by the family of fugitive property tycoon Joseph Lau Luen-hung, swung to a loss last year as China\u2019s housing market soured.The Hong Kong developer, chaired by Joseph Lau\u2019s son Lau Ming-wai, 41, reported a loss\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122422,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-estates-offers-to-take-firm-private-after-selling-stake-in-debt-ridden-china-evergrande-at-loss\/","url_meta":{"origin":122173,"position":3},"title":"Chinese Estates offers to take firm private after selling stake in debt-ridden China Evergrande at loss","date":"October 6, 2021","format":false,"excerpt":"\r The family of Hong Kong magnate Joseph Lau Luen-hung is planning to take Chinese Estates Holdings private and on Wednesday offered an 83.5 per cent premium for shares held by minority owners.The family is offering HK$4 apiece to public investors in the Hong Kong-listed company, whose stock closed at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84530,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-property-firm-chinese-estates-increases-stake-in-china-evergrande\/","url_meta":{"origin":122173,"position":4},"title":"Hong Kong property firm Chinese Estates increases stake in China Evergrande","date":"April 4, 2018","format":false,"excerpt":"\r Hong Kong property firm Chinese Estates Holdings and its executive director Chan Hoi-wan have raised their stake in mainland Chinese property developer China Evergrande to 8 per cent in the past 12 months, spending a total of HK$18 billion (US$2.3 billion). Chan, the wife of former Chinese Estates chairman\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69458,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-estates-builds-6-per-cent-stake-in-evergrande-as-stock-price-quadruples\/","url_meta":{"origin":122173,"position":5},"title":"Chinese Estates builds 6 per cent stake in Evergrande as stock price quadruples","date":"October 19, 2017","format":false,"excerpt":"\r Chinese Estates, a Hong Kong property developer, said on Thursday it has spent HK$12 billion in the past six months building a 6.2 per cent stake in China Evergrande, as the latter\u2019s stock quadrupled in the same period. At the same time, Chan Hoi-wan, an executive director of Chinese\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/122173"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=122173"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/122173\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=122173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=122173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=122173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}