Joseph Lau Luen-hung (right) and his wife Chan Hoi-wan (left) during the funeral service of the real estate tycoon Walter Kwok Ping-sheung held at St. John’s Cathedral in Hong Kong on 1 November 2018. Photo: Felix Wong. Joseph Lau Luen-hung (right) and his wife Chan Hoi-wan (left) during the funeral service of the real estate tycoon Walter Kwok Ping-sheung held at St. John’s Cathedral in Hong Kong on 1 November 2018. Photo: Felix Wong.
Joseph Lau Luen-hung (right) and his wife Chan Hoi-wan (left) during the funeral service of the real estate tycoon Walter Kwok Ping-sheung held at St. John’s Cathedral in Hong Kong on 1 November 2018. Photo: Felix Wong.

Evergrande’s staunchest allies drop out as Chinese property developer’s creditworthiness deteriorates amid debt woes

  • Joseph Lau Luen-hung and Chan Hoi-wan sold 138 million Evergrande shares several times last month for HK$500 million, according to exchange filings
  • Lau and Chan cut their stakes to 7.96 per cent, second only to Hui Ka-yan’s controlling stake of 70.7 per cent in Shenzhen-based Evergrande

Topic |   China Evergrande Group
Joseph Lau Luen-hung (right) and his wife Chan Hoi-wan (left) during the funeral service of the real estate tycoon Walter Kwok Ping-sheung held at St. John’s Cathedral in Hong Kong on 1 November 2018. Photo: Felix Wong. Joseph Lau Luen-hung (right) and his wife Chan Hoi-wan (left) during the funeral service of the real estate tycoon Walter Kwok Ping-sheung held at St. John’s Cathedral in Hong Kong on 1 November 2018. Photo: Felix Wong.
Joseph Lau Luen-hung (right) and his wife Chan Hoi-wan (left) during the funeral service of the real estate tycoon Walter Kwok Ping-sheung held at St. John’s Cathedral in Hong Kong on 1 November 2018. Photo: Felix Wong.
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