By Joanne Chiu
Chinese Estates Holdings Ltd. (>> Chinese Estates Holdings Ltd) has raised its stake in China Evergrande Group (>> China Evergrande Group) in the open market to 5.83%, without disclosing the additional purchase cost.
The latest disclosure by the Hong Kong investment-holding company came after it said last month that it had bought 655.21 million shares in the Chinese developer between April and mid-July for 8.1 billion Hong Kong dollars (US$1.04 billion), representing around a 5% stake in China Evergrande.
It said executive director Chan Hoi-wan holds 35 million shares, or a 0.27% stake, in China Evergrande.
Write to Joanne Chiu at [email protected]