Evergrande backer Chinese Estates' stock soars on take-private offer

Evergrande backer Chinese Estates' stock soars on take-private offer

FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo/File Photo

Shares of Chinese Estates Holdings, a former major shareholder of embattled developer China Evergrande, jumped as much as 32% on Thursday after it announced an offer to be taken private for HK$1.91 billion ($245 million).

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