000002.SZ
VANKE
Shenzhen
17.780.08 (0.45%)
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1d
Prev Close17.70
Open17.60
Bid17.77 x
Ask17.78 x
52wk Range16.74 - 21.99
Day's Range17.52 - 17.83
Volume149,319,656
Avg Vol (3m)263,446,355
As of 3:00 AM EDT. Market closed.
  • Reutersyesterday

    Vanke battle peers into shadows of China banks' risky lending

    The takeover tussle embroiling top Chinese developer China Vanke has unveiled how local banks are increasingly exposed to highly volatile domestic stock markets through risky shadow lending products that mask their worsening asset quality. In their hunt for higher investment returns in a slowing economy and to offset the impact of rising bad loans, Chinese banks are putting their depositors' money into so-called asset management plans (AMPs), products set up for the purpose of lending to companies and backed by shares as collateral. Baoneng Group, which is attempting a hostile takeover of Vanke, used 26 billion yuan ($3.9 billion) of such instruments from about half a dozen banks - including traditionally cautious China Construction Bank Corp (CCB) - to partly finance buying 25 percent of the property developer.

  • The Wall Street Journal3 days ago

    [$$] How China Vanke Chief’s State Savior Could Be His Undoing

    When China Vanke went looking for a strategic shareholder to stave off takeover bids, chairman Wang Shi chose a government-owned company as a protector. Now that decision is haunting him.

  • Reuters5 days ago

    Vanke seals deal with Blackstone, chips in $583 mln

    Developer China Vanke Co Ltd said on Thursday it and its partners have sealed a $1.9 billion deal with Blackstone Group LP and third parties, with itself putting in 3.89 billion yuan ($583.02 million) to buy their property firms. The deal was first made public last Tuesday, when Vanke disclosed it was in talks after its second-biggest shareholder, China Resources, criticized the Vanke board's approval of a white knight deal with Shenzhen Metro as being invalid because one Vanke director had abstained from voting. In a filing to the stock exchange, Vanke, China's largest property developer, said it and its partners would acquire a 96.55 percent interest in property firms held by Blackstone and third parties.