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Evergrande seeks Vanke influence

By Oswald Chan In Hong Kong ( China Daily ) Updated: 2016-08-06 07:41:01

Strategic investment complicates firm's shareholder structure

Evergrande Group's strategic investment in China Vanke Co may cast a negative impact on Vanke's H shares, since the acquisition complicates Vanke's shareholder structure, financial analysts said on Friday.

Guangzhou-based developer Evergrande on Thursday announced in a filing to the Hong Kong Stock Exchange that it had brought more than 516 million of Vanke's A shares, a 4.68 percent stake, for 9.1 billion yuan ($1.4 billion), making it the fourth-largest shareholder in Vanke, after Baoneng Group, China Resources (Holdings) Co and Anbang Insurance Group.

Evergrande seeks Vanke influence

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