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Vanke Bids For RMB735M Stake In Property Developer
200002.SZ, China Vanke, Liang Jie, Shanghai United Assets and Equity Exchange, Shenzhen International Trust & Investment, UAE
Posted by: Li Jun on Jan 22, 2008 | 17:01
Editorial Summary
Shenzhen-based real estate company China Vanke Co., Ltd. (200002.SZ) confirmed its bid for a 49 percent stake in a property development subsidiary of Shenzhen International Trust & Investment Co., Ltd, reports China Business News quoting Vanke securities affairs representative Liang Jie. The real estate subsidiary is listed on the Shanghai United Assets and Equity Exchange (UAE) at a price of RMB735 million. Shares of Vanke dropped 8.65 percent to close at RMB23.75 on the Shanghai Stock Exchange on Tuesday.
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