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

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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