The China Evergrande Centre in Wan Chai, Hong Kong. Photo: Edmond So
The China Evergrande Centre in Wan Chai, Hong Kong. Photo: Edmond So

Evergrande’s Hong Kong ally boosts Chinese Estates shares with privatisation bid at 83 per cent premium

  • Chinese Estates’ stock surged 32 per cent, adding HK$1.77 billion in market value to the developer
  • Company intends to dump its remaining 4.4 per cent stake in Evergrande amid its liquidity woes, ending ties spanning 12 years

The China Evergrande Centre in Wan Chai, Hong Kong. Photo: Edmond So
The China Evergrande Centre in Wan Chai, Hong Kong. Photo: Edmond So
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