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Sign in Sign up for a FREE subscriptionChinese Estates plans to go private
Chinese Estates Holdings, a shareholder of embattled developer China Evergrande, is in talks to be taken private by Solar Bright, according to a filing with the Hong Kong Exchange .
“It is considered that the delisting of the company would reduce the costs and management resources associated with the maintenance of the listing of the company on the stock exchange and its publicly listed status,” Chinese Estates said.
Approximately 62.92 percent of the company would be owned by Solar Bright, 24.97 percent by Century Frontier and 12.11 percent by JLLH Investments, each an offeror-concert party with Solar Bright.
