Glorious Property shares halted pending privatisation notice
Founder Zhang is trying again to go private after failing to succeed in 2013
Hong Kong
SHARES in Chinese property developer Glorious Property Holdings Ltd were suspended on Monday in Hong Kong pending an announcement about a privatisation bid by the company's founder and controlling shareholder.
Glorious Property requested a halt in trading at 9am local time ahead of an announcement "containing inside information in relation to a possible privatisation by the controlling shareholder of the company", the Shanghai-based developer said in an statement to the Hong Kong stock exchange.
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