Glorious Property shares halted pending privatisation notice
Founder Zhang is trying again to go private after failing to succeed in 2013
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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.
