top of page

China's State Capital Raised Stake in Property Developers


June 21, 2017




China's second biggest property developer Evergrande was selling its entire 14.7% stake in China's biggest home builder China Vanke for aggregate consideration of approximately RMB29.2 billion to state Metro Shenzhen, the state-owned subway operator's control over Vanke was affirmed after it raised its stake to 29.38%, gaining three board seats. 



China Vanke Chairman Wang Shi, one of the best known Chinese businessmen, unveils today he will step down from the board of the company. According to stock exchange filing, the state owned metro operator will gain three board seats in the company, subject to annual general meeting approval at the end of this month. 


The state-owned subway operator also increased shareholding in China Evergrande through evergrande's "capital increase" program in May. 


 -  Staff Writer APMR News

Article  Published on : 2017  June 21,  4:45 pm GMT+800

Article  Last Updated : 2017 June 21,  8:55 pm GMT +800

  • Wix Facebook page
  • Wix Twitter page
  • LinkedIn Social Icon
  • Wix Google+ page

Readers interested in this article also read

  • November Macro Economy Review

  • July Property Market Review

  • Singapore Q2 Commercial Property Market Review

  • June Macro Economy Review

Latest News
bottom of page