China Vanke expanding overseas, in talks with strategic investors
Developer selling stake, taps offshore capital markets
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[HONG KONG] China Vanke Co Ltd , the country's largest residential property developer, said yesterday that it is in talks with global investors, including funds and real estate peers, to sell a strategic stake as the company seeks to expand overseas and tap offshore capital markets.
The stake sale could be accomplished by issuing new shares or via the purchase of shares from the secondary market, Vanke chairman Wang Shi told reporters at the company's Hong Kong-listing ceremony yesterday.
"By moving to Hong Kong, it will help our international brand . . . help to attract strategic investors. It will be more healthy for Vanke to leverage on this international platform," Mr Wang said.
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