Evergrande Becomes Vanke's Third-Largest Shareholder by Increasing A-share Again
Yicai Global
/SOURCE : Yicai
Evergrande Becomes Vanke's Third-Largest Shareholder by Increasing A-share Again

(Yicai Global) Aug. 16 -- China's second largest real estate group, Evergrande Group [HK: 03333] has become the third largest shareholder of China Vanke Co., Ltd. [SZ: 000002], the country's real estate industry giant, by consecutive acquisition of equity in the secondary market.

Due to Evergrande's affiliated company's further acquisition of 236 million Vanke A-shares from Aug. 8 to Aug. 15, it now holds a total of 753 million shares, accounting for 6.82 percent of the total issued capital stock of Vanke. This takes their total acquisition of shares to CNY14.57 billion overall.

Evergrande Group's acquisition of the shares caused Vanke's stock price to increase rapidly. On Aug. 16, Vanke A-shares reached the limit-up shortly after opening, and the stock price of CNY 27.45 per share hit a record high. In August alone, the cumulative increase of Vanke A-shares is up to 63 percent.

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