China Vanke shares suspended from trade in Hong Kong

[HONG KONG] Shares of property developer China Vanke Co Ltd were suspended from trade in Hong Kong on Thursday, according to the Hong Kong stock exchange.

It was not immediately clear if the suspension was initiated by the bourse or the company. The bourse gave no further details about the suspension, pending an additional statement.

China Vanke has been at the centre of a rare corporate power struggle in China, at odds with its biggest shareholder the Baoneng financial conglomerate. Rival Evergrande Group has also built up a big stake.

REUTERS