Hony Capital acquires 10% stake in Chinese property developer
Hony Capital has bought a 10% stakes in Shanghai-listed property developer Shanghai Chengtou Holding for RMB1.8 billion ($290 million), becoming the second-largest shareholder in the company.
According to a regulatory filing, Hony bought 299 million shares at RMB6 apiece, and is now subject to a 36-month lock-up period. Chengtou, which had been suspended from trading since February 19 pending...
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