China Evergrande raises holdings in Vanke to 6.82%
Guangzhou Evergrande Group Chairman Xu Jiayin (C)
Beijing - Arab Today
China Evergrande Group, a real estate conglomerate, announced Monday that it has bought 6.82 percent of issued A shares of China Vanke, the country's largest developer by market value.
Evergrande owned 4.68 percent of Vanke as of Aug. 4, the company said in an earlier statement.
"Between Aug. 8 and 15, Evergrande bought 235.79 million shares of Vanke via Evergrande's affiliated companies," the company said in a recent statement filed to the Hong Kong stock authority.
On Monday, Vanke's shares in Shenzhen surged by the daily limit of 10 percent.
Source : XINHUA
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