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Shareholders lose out in Vanke takeover fight

China property group's shares dive after six-month suspension engineered by bosses trying to fight off hostile takeover, clearing billions off its market capitalisation
Thursday, July 7, 2016 - 05:50
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China Vanke's revenues have ballooned around 50 times since 2000 to 195 billion yuan last year, when net profits jumped 15 per cent despite the country's growth slowdown and stuttering property market.

Beijing

SHARES in China's biggest property company plunged this week as it returned to trading, after a six-month suspension engineered by bosses trying to fight off what would be the country's first hostile blue-chip takeover.

The drop has wiped billions off China Vanke's market