China Evergrande ups stake in Langfang
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Shanghai
PROPERTY developer China Evergrande Group raised its stake in goods trading company Langfang Development Co Ltd to 15 per cent, the latest move in its equity purchase spree.
Langfang shares in Shanghai jumped 10 per cent after the company announced that China's No 2 developer bought a 5 per cent interest for 399 million yuan (S$80.7 million) last week to become Langfang's largest shareholder.
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