|Bid||21.700 x 0|
|Ask||21.800 x 0|
|Day's Range||21.250 - 22.250|
|52 Week Range||7.260 - 43.550|
|Beta (5Y Monthly)||1.00|
|PE Ratio (TTM)||6.23|
|Earnings Date||Mar 17, 2023|
|Forward Dividend & Yield||1.80 (7.20%)|
|Ex-Dividend Date||Nov 24, 2022|
|1y Target Est||38.88|
Global investors Warburg Pincus and Greystar Real Estate Partners are pushing deeper into China's rental housing, as a growing number of distressed developers are looking to divest some of their assets to temper a stifling liquidity crunch. The two asset managers, whose focus is on top tier Chinese cities for rental business, are in talks with distressed developers to take over assets including offices and hotels to turn them into rental housing, their executives told Reuters.
Investors dumped Chinese developer Longfor Group Holdings's shares and bonds on Monday after co-founder Wu Yajun resigned, triggering panic sales amid mounting investor concerns about home builders considered relatively healthy. The Hong Kong-listed company's market capitalisation fell HK$19.6 billion (US$2.5 billion) on Monday to HK$62.81 billion, narrowing from a bigger loss earlier in the day. Its share price slumped as much as 44.2 per cent to HK$7.32 during the morning trading session, befo
Longfor Group said its 1.5 billion yuan ($219 million) bonds had been priced at a coupon rate of 3.3%, marking the first sale by a private Chinese homebuilder of notes fully guaranteed by the state to boost market sentiment amid a sector-wide cash crunch. Beijing has stepped up support for the property sector on worries that a deepening debt crisis and defaults could impact property developers regarded as financially sound. The offering was guaranteed by state-owned China Bond Insurance Co Ltd.