Evergrande boosts Vanke stake, plans lockup for other holdings

Hong Kong

CHINA Evergrande Group, the country's largest property developer, boosted its holdings in rival China Vanke Co after drawing regulatory scrutiny over a string of purchases in listed companies.

The Guangzhou-based home builder bought 73.7 million of Vanke's mainland-traded A shares on Nov 10, bringing its total stake to 10.16 per cent of the stock, according to a filing to Hong Kong's stock exchange on Monday. Evergrande revealed last week that it bought 161.9 million Vanke A shares, lifting its holding to 9.4 per cent.