Chinese developer Vanke to disclose restructuring plan in 30 days

China Vanke Co , the country’s biggest home builder, said it is planning a major restructuring and will disclose details within 30 days.

Vanke‘s Shenzhen- and Hong Kong-listed shares were suspended from trading on Friday afternoon, after a war of words broke out between Vanke Chairman Wang Shi and its biggest shareholder over control of the company.

Vanke said in an exchange filing late on Sunday that the company would disclose details of there structuring plan before Jan. 18, 2016, and the share suspension would shield investors from possible fluctuations in prices due to uncertainty.

The official China Securities Journal reported on Friday that Wang did not welcome property and insurance group Shenzhen Jushenghua Co as its largest shareholder, saying the firm lacked “credibility” and would negatively impact Vanke.

In response, Jushenghua parent Baoneng Group said on its website that since its founding in 1992, the group had created huge value to its clients and enjoyed a “good reputation”.

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(Editing by Stephen Coates)

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.