New | Kaisa Group’s public float at 20.81pc, below regulation 25pc

Embattled mainland China developer Kaisa Group Holdings said on Thursday its public float fell to 20.81 per cent, below the minimum regulatory requirement of 25 per cent.

Trading in Kaisa shares has been suspended since March 31, 2015.

The Shenzhen-based developer said in a stock exchange filing that the family of chairman Kwok Ying-shing holds a 49.25 per cent stake in the company, while 29.94 per cent is owned by the Sino Life group.

Kaisa’s outstanding shares stood at 1.06 billion.

Kwok, who resigned about three months ago, returned as chairman last week.