Joseph Lau Luen-hung, former chairman of Chinese Estates Holdings, on 1 November 2018. Photo: Sam Tsang. Joseph Lau Luen-hung, former chairman of Chinese Estates Holdings, on 1 November 2018. Photo: Sam Tsang.
Joseph Lau Luen-hung, former chairman of Chinese Estates Holdings, on 1 November 2018. Photo: Sam Tsang.

Chinese Estates cuts losses, heads for exit after 12 years as Evergrande’s biggest ally and second-largest shareholder

  • Chinese Estates posted a loss of HK$1.38 billion after selling 108.9 million Evergrande shares for HK$246.5 million, or HK$2.26 each on average, from August 30 to September 21
  • The company said it may sell its remaining stake of 751.09 million shares, or 5.66 per cent of Evergrande

Topic |   Evergrande crisis
Joseph Lau Luen-hung, former chairman of Chinese Estates Holdings, on 1 November 2018. Photo: Sam Tsang. Joseph Lau Luen-hung, former chairman of Chinese Estates Holdings, on 1 November 2018. Photo: Sam Tsang.
Joseph Lau Luen-hung, former chairman of Chinese Estates Holdings, on 1 November 2018. Photo: Sam Tsang.
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