Date
24 September 2017

China Vanke gets nod for B-H share switch, paper says

China Vanke Co., Ltd. (000002.CN) gained regulatory approval Monday to convert its Shenzhen-listed B shares to an H-share listing in Hong Kong, the Economic Information Daily reported Tuesday. China Resources Enterprise Ltd. (00291.HK) or its subsidiaries, the Government of Singapore Investment Corporation Pte. Ltd., and Value Partners Ltd. have offered to pay HK$12.91 (US$1.66) in cash for each B share surrendered by existing shareholders. As of December 26, 2012, when Vanke’s B shares were suspended, the company had issued nearly 1.315 billion B shares with an estimated value of HK$16.4 billion (US$2.113 billion), accounting for 11.96 percent of Vanke’s total share capital, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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