Kaisa Prosperity jumps most in over 7 months, parent plans stake sale

Kaisa Prosperity Holdings

29/10/2021 08:32

** Shares of Kaisa Prosperity Holdings Ltd  2168.HK  jump
13.2% to HK$17.18, biggest daily percentage gain since March 19
    ** Stock of the property management arm of Kaisa Group
Holdings Ltd  1638.HK  on course to snap five straight sessions
of losses
    ** Kaisa Group is seeking buyers for its Hong Kong-listed
property management unit and two residential sites in the city,
Reuters reported citing people with knowledge of the matter, as
the developer scrambles to meet a wall of debt repayments
 urn:newsml:reuters.com:*:nL1N2RP0FH
    ** The Shenzhen-based developer plans to sell its entire
67.18% stake in Kaisa Prosperity, a company with a market value
of around HK$2.4 bln ($310 mln), two sources said
    ** Shares of Kaisa Group fall 4.2% to HK$1.14, the lowest
since debut in December 2009; stock falls for a third
consecutive session
    ** Hang Seng sub-index tracking property firms  .HSNP  falls
1%, and Hang Seng Mainland Properties Index  .HSMPI  drops 2.1%
    ** Hang Seng Composite Index tracking properties and
construction stocks  .HSCIPC  slips 1.2%, and the benchmark
index  .HSI  eases 0.9%
    ** Kaisa Prosperity's stock had fallen 20.5% this year as of
last close, while parent Kaisa Group had plunged 68% 


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))