HK shares of Kaisa Group rise; chairman buys stake in property management arm

Kaisa Prosperity Holdings

12/12/2018 03:18

** Shares of Kaisa Group Holdings  1638.HK  climb as much as
5.8 pct after two sessions of decline, their biggest intraday
pct gain since Nov 30
    ** The Shenzhen-based developer said in a release late
Tuesday its Chairman Kwok Ying Shing purchased 1.14 million
shares of property management arm Kaisa Property Holdings
 2168.HK  in the open market at an average price of HK$7.76 each
on Dec. 11
    ** Co says Kwok's stake acquisition in Kaisa Property served
as a proof of his confidence in the unit's future development
    ** Shares of Kaisa Property fall 5.3 pct to HK$7.63. The
stock, which got listed on Dec. 6, still trades below the IPO
price of HK$9.38 apiece
    ** Kaisa Group's stock down 49.2 pct so far this year as of
last close
    ** Kaisa Group has outperformed the Hang Seng Property Index
sector  .HSNP  by 6.4 percentage points in the past one month
    

 ((Reuters Messaging:
donny.kwok.thomsonreuters.com@reuters.net))