It's been revealed Chinese property developer Vanke may be poised to try to issue new shares as part of an acquisition.
In a filing to the Hong Kong's stock exchange, Vanke says it’s considering acquiring a company in a share and cash deal, and has suggested this could be done through the issue of new A shares or H shares.
Vanke has not revealed the name the company its looking to purchase.
This comes as Vanke shares remain on a trading hold amid its high-profile battle with its largest shareholder, the Baoneng Group.
Baoneng became Vanke's biggest shareholder after buying more than 20 percent via its unit Shenzhen Jushenghua Company and Foresea Life.
Vanke officials have deemed the move a hostile takeover bid.
Source:
http://english.cri.cn/12394/2015/12/29/3744s910602.htm
