Previous Close | 8.58 |
Open | 8.35 |
Bid | 8.24 x 0 |
Ask | 8.25 x 0 |
Day's Range | 8.15 - 8.44 |
52 Week Range | 6.45 - 15.78 |
Volume | |
Avg. Volume | 281,193,538 |
Market Cap | 91.024B |
Beta (5Y Monthly) | 0.76 |
PE Ratio (TTM) | 9.48 |
EPS (TTM) | N/A |
Earnings Date | N/A |
Forward Dividend & Yield | 0.68 (8.24%) |
Ex-Dividend Date | Aug 25, 2023 |
1y Target Est | N/A |
(Bloomberg) -- China Vanke Co., the Chinese state-backed developer that’s become the latest flashpoint in the nation’s property crisis, is in advanced talks with major banks for a loan of about 50 billion yuan ($6.9 billion), people familiar with the matter said. Most Read from BloombergWorld’s Largest Nuclear Plant Sits Idle While Energy Needs Soar‘Not Gonna Be Pretty:’ Covid-Era Homebuyers Face Huge Rate JumpWarning Signals Are Flashing for Homeowners in Texas and FloridaInsurers Sink as Unite
HONG KONG and BENGALURU (Reuters) -Embattled Chinese property developer China Vanke said on Monday it had completed the sale of a plot of land in Shenzhen for 2.24 billion yuan ($309.23 million), more than 27% below the price it paid for the block nearly seven years ago. The company is working to raise funds after saying last month it is facing short-term liquidity pressure, one of many companies to have been caught up in a broad-based cash crunch in China's crisis-hit real estate sector. Vanke's largest shareholder, state-owned Shenzhen Metro, and Shenzhen Baishuo Yinghai Investment jointly bought the plot at the reserve price, according to an online filing uploaded to a trading center in Shenzhen on Monday.
Troubled property developer China Vanke will receive a 7.8 billion yuan (US$1.1 billion) lifeline in the form of bank loans guaranteed by its subsidiaries, a day after the company had its credit rating cut. Shenzhen Yili Real Estate Development provided a guarantee for a 4.49 billion yuan loan, while Shenzhen Zhongke Wanxin Industrial offered a guarantee for a 3.29 billion yuan borrowing, Vanke said in a Friday stock exchange filing. The loan arrangement came after Fitch Ratings on Thursday down