Evergrande ally boosts Chinese Estates with US$245 million take-private bid

Chinese Estates Holdings soared after the family of Hong Kong tycoon Joseph Lau Luen-hung offered to take the property developer private, giving the stock a HK$1.76 billion (US$226 million) boost in market value.The shares jumped 32 per cent to HK$3.82 at the close of trading on Thursday in one of their biggest rallies since a 60 per cent surge in June 2020. The gain added to a 2.8 per cent appreciation last month, halting a six-month rout partly associated with its soured investment in debt…

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