Chinese Estates Expects Gains of HK$3.7 Billion in First Half

By Joanne Chiu Features Dow Jones Newswires

Chinese Estates (Holdings) Ltd. (0127.HK) is expected to record gains of around 3.7 billion Hong Kong dollars (US$473.6 million) for the first half.

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The Hong Kong-listed investment holding company said after markets closed Tuesday that it is expected to record a HK$2.3 billion gain from the sale of Shengjing Bank Co.'s (2066.HK) shares in the first half.

The company will also record an unrealized fair-value gain of HK$1.2 billion from its holding of 579.9 million shares in Chinese developer China Evergrande Group (3333.HK), whose stock price has more than tripled in the first half.

It said it is also expected to record a HK$208.1 million (US$26.6 million) gain from the sale of other listed securities and treasury products during the period.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

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July 04, 2017 05:33 ET (09:33 GMT)