Kaisa Group Holdings’ City Plaza development under construction in Shanghai on November 16, 2021. Photo: Bloomberg.
Kaisa Group Holdings’ City Plaza development under construction in Shanghai on November 16, 2021. Photo: Bloomberg.

Kaisa loses control of Nam Tai’s board in epic revolt led by activist shareholder IsZo, adding to the indebted developer’s woes

  • Nearly 60 per cent of Nam Tai shareholders voted to eject six Kaisa-appointed directors and replaced them with executives nominated by IsZo Capital Management
  • US billionaire Peter Kellogg, the second largest shareholder with 19 per cent stake, will stay on at Nam Tai, while Mark Waslen will extend his tenure as director

Topic |   China property
Kaisa Group Holdings’ City Plaza development under construction in Shanghai on November 16, 2021. Photo: Bloomberg.
Kaisa Group Holdings’ City Plaza development under construction in Shanghai on November 16, 2021. Photo: Bloomberg.
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