|Bid||2.8510 x 469600|
|Ask||2.9360 x 456300|
|Day's Range||2.8510 - 2.8510|
|52 Week Range||1.6700 - 3.1200|
|Beta (5Y Monthly)||0.31|
|PE Ratio (TTM)||5.48|
|Forward Dividend & Yield||0.14 (4.95%)|
|Ex-Dividend Date||Jun 23, 2022|
|1y Target Est||N/A|
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HONG KONG (Reuters) -Chinese state-owned property firms are expected to acquire more assets from cash-strapped private developers, analysts said, as Beijing steps up efforts to stabilise and tighten control over a crisis-hit sector that accounts for a quarter of its economy. The market has seen over half a dozen deals in recent weeks following easing of rules to issue debt for quality property firms, and initiatives by local governments to facilitate asset disposal for distressed firms. State-owned China Overseas Land & Investment (COLI) is buying stakes of Shimao Group and Agile Group in a joint venture project for a total of 3.7 billion yuan ($585 million).
China Evergrande Group on Monday sought more time from its offshore bondholders to work on a "comprehensive" and "effective" debt restructuring plan, amid signs Beijing is tightening control over the cash-strapped property group. Evergrande, once China's top selling real estate developer, has more than $300 billion in liabilities, including nearly $20 billion of international bonds all deemed to be in default after a run of missed payments late last year.