Chinese Estates Holdings Raises Stake in China Evergrande to 5.83%

By Joanne Chiu Features Dow Jones Newswires

Chinese Estates Holdings Ltd. (0127.HK) has raised its stake in China Evergrande Group (3333.HK) in the open market to 5.83%, without disclosing the additional purchase cost.

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The latest disclosure by the Hong Kong investment-holding company came after it said last month that it had bought 655.21 million shares in the Chinese developer between April and mid-July for 8.1 billion Hong Kong dollars (US$1.04 billion), representing around a 5% stake in China Evergrande.

It said executive director Chan Hoi-wan holds 35 million shares, or a 0.27% stake, in China Evergrande.

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

(END) Dow Jones Newswires

August 29, 2017 05:34 ET (09:34 GMT)