File photo of CMB’s Irene Ngan Kit-ling at a 2002 news conference as she explains why the company is rejecting a hostile bid by offering to pay a special dividend. Photo: SCMP Pictures

Cash-rich Hong Kong developer CMB surges after hedge fund challenge over undervalued stock

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File photo of CMB’s Irene Ngan Kit-ling at a 2002 news conference as she explains why the company is rejecting a hostile bid by offering to pay a special dividend. Photo: SCMP Pictures
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