Evergrande Unlikely to Call an EGM Despite Buying More Shares
Evergrande announced it has acquired 162 million Vanke A-shares between Aug. 16 and Nov. 6, 2016. Combined with the previous rounds of share purchases, the company now holds an aggregate of 915 million Vanke A-shares, or 8.29% of the total shares outstanding. It is unclear what Evergrande’s intention is at this point. China Vanke also announced that it has, once again, delayed the announcement of details related to the proposed share issuance to Shenzhen Metro. This further underscored the infea...
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