China Vanke Co., Ltd. (CHVKF)
- Reuters
China Vanke sells Shenzhen land plot at loss-making reserve price
HONG KONG and BENGALURU (Reuters) -Embattled Chinese property developer China Vanke said on Monday it had completed the sale of a plot of land in Shenzhen for 2.24 billion yuan ($309.23 million), more than 27% below the price it paid for the block nearly seven years ago. The company is working to raise funds after saying last month it is facing short-term liquidity pressure, one of many companies to have been caught up in a broad-based cash crunch in China's crisis-hit real estate sector. Vanke's largest shareholder, state-owned Shenzhen Metro, and Shenzhen Baishuo Yinghai Investment jointly bought the plot at the reserve price, according to an online filing uploaded to a trading center in Shenzhen on Monday.
- Bloomberg
Builder Vanke Securitizes Some Private Debt to Delay Payments
(Bloomberg) -- China Vanke Co. repackaged some of its privately issued debt into asset-backed securities, a move that effectively allows the builder to push back already deferred payments, according to people familiar with the matter.Most Read from BloombergSingapore Air Changes Seatbelt Rules After Fatal TurbulenceSpaceX Weighs Plan to Sell Shares at $200 Billion ValuationNvidia Stock Surges as Sales Forecast Delivers on AI HopesChina’s $538 Billion Deposit Exodus Supercharges Rally in BondsThe
- Bloomberg
Lifelines Spur Frenzy of Bets on China Vanke’s Turnaround
(Bloomberg) -- Trading in shares of China Vanke Co. has surged to the highest level in four years as China’s housing rescue package and nearly $4 billion of funding secured by the property firm this month spur bets on its survival.Most Read from BloombergSingapore Air Changes Seatbelt Rules After Fatal TurbulenceSpaceX Weighs Plan to Sell Shares at $200 Billion ValuationNvidia Stock Surges as Sales Forecast Delivers on AI HopesHarvard Students Walk Out of Commencement Protesting SuspensionsChina
