|Day's Range||24.55 - 25.98|
|52 Week Range||16.74 - 29.00|
|PE Ratio (TTM)||N/A|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Property tycoon Wang Shi’s step-down from the helm of China Vanke marks the end of an era for one of the crown jewels of China’s private business world.
China Vanke Co Chairman Wang Shi, one of the best known people in Chinese business, will step down from the board after a years-long power struggle saw the nation's No.2 property developer fall under state control. The 66-year-old former government official and People’s Liberation Army veteran said it was time to hand over the reins of the company he founded in 1988 and built into a real estate powerhouse that rode on the back of China's economic boom. The move was widely expected after China Vanke was taken over by the Shenzhen government in March, ending a struggle for boardroom control and raising questions about to what extent the property giant would remain a market-driven company.
China Vanke, the country's No.2 homebuilder by sales, is in talks to join a Chinese consortium led by Hopu Investment Management and Hillhouse Capital Group to bid for Global Logistic Properties , three sources said. Shenzhen-based Vanke has been in discussions with the Hopu-Hillhouse consortium for a couple of weeks, said one source, adding that the bidding group was talking to at least two other potential investors from China.