HK's Chinese Estates set to drop 31% after it shelves plan to go private

Chinese Estates Holdings

20/12/2021 01:21

HONG KONG, Dec 20 (Reuters) - Shares of Chinese Estates
Holdings Ltd  0127.HK  are set to drop 31.2% in resumed trade on
Monday after the Hong Kong-based property group shelved plans to
go private.  urn:newsml:reuters.com:*:nL4N2T22OQ
    The stock, suspended for half a day in the previous session,
is set to open at HK$2.60 per share. That compared with a 0.5%
fall in the benchmark Hang Seng Index  .HSI .
    Chinese Estates, a former major stakeholder in embattled
developer China Evergrande  3333.HK , said on Friday its plans
to go private had fallen through as its shareholders had
rejected the proposal.

 (Reporting by Donny Kwok; Editing by Jacqueline Wong)
 ((donny.kwok@thomsonreuters.com; +852 2843 6470;))