HONG KONG : The shareholding of China Evergrande Group's chairman in its property services unit has fallen to 58.18per cent from 60.96per cent after forced selling of pledged shares by a third party, a Hong Kong stock exchange filing showed.
The number of Evergrande Property Services Group shares involved was 300 million, and the drop was the result of steps taken on Dec. 20 to enforce rights to the shares held as security against chairman Hui Ka Yan, the filing said.The stake was worth roughly HKUS$798 million , based on the stock's closing price of HKUS$2.66 on the day.
Hui's stake in Evergrande Group itself dropped to 59.78per cent earlier this month, also on forced selling."
Source: Real Estate Daily Report (realestatedailyreport.net)
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