Vanke to sell shares
(China Daily)Updated: 2007-03-21 10:57
China Vanke Co, the nation's largest publicly traded
developer, plans to sell shares to fund 31 billion yuan worth of residential
projects, accelerating expansion as home sales and stock prices surge.
The company will sell shares equal to as much as 20 percent of the total before the sale, Vanke said in a statement to the Shenzhen Stock Exchange yesterday. A sale of that size would raise as much as 14.2 billion yuan, based on the company's current market value.
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