"'Evergrande's 2nd Largest Shareholder' Fantasia Holdings' Stock Price Rises 32% on Delisting News"

[Asia Economy Reporter Cho Hyun-ui] Fine Property, the second largest shareholder of Evergrande Group, saw its stock price surge 32% following news of its delisting.

On the 6th (local time), according to Bloomberg News, Solar Bright, based in the British Virgin Islands, proposed to acquire the stake of Joseph Lau's family, the largest shareholder of Fine Property, for $1.91 billion (2.9 trillion KRW).

Solar Bright stated that it would buy minority shareholders' stakes at HKD 4 per share. After completing the purchase of minority shareholders' stakes, it plans to delist Fine Property.

Following this news, Fine Property's stock was trading at $3.83 on the Hong Kong stock market as of 1:45 PM (local time), up 32.07% compared to the previous trading day.

Fine Property is pushing to sell all of Evergrande's shares. The company sold 108.9 million Evergrande shares for HKD 246.5 million (approximately 37.5 billion KRW) from August 30 to September 21, and plans to sell the remaining 751.1 million shares as well.

Bloomberg News stated, "If Fine Property liquidates all its shares, the company could incur a loss of about HKD 10.4 billion (approximately 1.59 trillion KRW)."

This content was produced with the assistance of AI translation services.