Chinese Estates shares drop 31% after privatization plan falls through
Shares of Chinese Estates (Holdings) Ltd. fell 31% on Monday after it said its proposed privatization won't proceed as it failed to receive a majority of shareholders' votes.
Chinese Estates Group (the Group) is one of the leading property developers in Hong Kong. Chinese Estates Holdings Limited is the holding company of the Group and it is publicly listed on The Stock Exchange of Hong Kong Limited with stock code: 127. Chinese Estates' core businesses comprise of property investment for rental and property development. The Group focuses primarily in Hong Kong, and diversifies its property interests to mainland China and the United Kingdom. Property Investment -The Group's investment properties include retail and office assets. Most of the investment properties of Chinese Estates are highly accessible and strategically located in prime commercial areas in Hong Kong such as Causeway Bay and Wanchai. In mainland China, Chinese Estates owns a five-star international hotel in Beijing. In the United Kingdom, Chinese Estates owns four investment properties in London. Over the past twenty years, Chinese Estates has built a reputation for conceptualising and implementing redevelopment, renovation works and repackaging programmes to enhance the value and revenue of its investment properties. Property Development-Chinese Estates specializes in developing mid to high-end commercial and residential property projects. A number of quality and cosmopolitan residential properties were developed for sale. The Group also participates in developing modern industrial properties. Business Strategies -Going forward, Chinese Estates will continue to grasp opportunities for acquiring properties and replenishing its landbank for developing quality projects. Furthermore, it will continue to enhance the value and revenue of its existing investment properties to increase recurrent income.
0.12 | |
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0.12 | |
0.12 | |
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321 M | |
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1 908 M | |
650 M | |
0.745 |
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Shares of Chinese Estates (Holdings) Ltd. fell 31% on Monday after it said its proposed privatization won't proceed as it failed to receive a majority of shareholders' votes.
(Bloomberg) -- Chinese Estates Holdings Ltd. shares tumbled by a record after the company failed to get sufficient shareholder support to go private. Most Read from Bloomberg South Africa Hospitaliz...
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