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Evergrande has ally against shorts as billionaire Lau invests

Published Wed, Jul 19, 2017 · 09:50 PM

Shanghai

IT TURNS out China Evergrande Group, the indebted developer which earlier this year fought off short sellers, had a hidden ally.

Chinese Estates Holdings Ltd, the company controlled by Hong Kong billionaire Joseph Lau and his family, bought HK$8.1 billion (S$1.4 billion) worth of Evergrande shares since April, Mr Lau's firm revealed on Wednesday as it announced its interest had passed 5 per cent. The announcement came a day after Bloomberg reported that Lakewood Capital Management is betting against Evergrande stock.

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Property

Property

Evergrande has ally against shorts as billionaire Lau invests

Property

Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters

Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up

Country Garden plans to present debt revamp plan in H2, sources say

Hong Kong home prices rise for first time in 11 months after curbs scrapped

HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand

Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%

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