The Chinese Estates Holdings office in Hong Kong. The company’s average disposal price for China Evergrande shares in August and September represents an 86 per cent discount on its average purchase price. Photo: Bloomberg
The Chinese Estates Holdings office in Hong Kong. The company’s average disposal price for China Evergrande shares in August and September represents an 86 per cent discount on its average purchase price. Photo: Bloomberg

Burned by Evergrande losses, Hong Kong tycoon offers to take developer Chinese Estates private for US$245 million

  • Joseph Lau’s family offers HK$4 apiece to public investors in Hong Kong-listed developer at an 83.5 per cent premium to last-traded price
  • Developer says steep losses arising from the sale of Evergrande shares had weakened its fundamentals

The Chinese Estates Holdings office in Hong Kong. The company’s average disposal price for China Evergrande shares in August and September represents an 86 per cent discount on its average purchase price. Photo: Bloomberg
The Chinese Estates Holdings office in Hong Kong. The company’s average disposal price for China Evergrande shares in August and September represents an 86 per cent discount on its average purchase price. Photo: Bloomberg

Corrected [7:55am, 7 Oct, 2021]

  • [7:55am, 7 Oct, 2021]

    Corrects name of founder in fourth paragraph

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