Updates for SOHO China Ltd
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Shares in Soho China fell nearly 40% on Monday after a U.S. Blackstone financial group took over its $ 3bn takeover of a Chinese company last week.
About $ 830m was cleared in the Soho China market when shares reported in Hong Kong fell as the exchange market reopened. The decline in prices came after companies spoke out in agreement on Friday that they will not receive permission to refuse to take the money within the agreed period.
Blackstone HK $ 5-share produced in June. As of Monday morning in Hong Kong, shares of Soho China were trading at HK $ 2.28, the same level before the announcement of their planned purchase.
The failure to buy came as a result of major legal changes and a breakdown in legislation in China, where officials have increased foreign exchange monitoring and deal with what he knows Just actions.
As a result, Wall Street is experiencing deepening divisions in investing in China, in the light of the snowfall illuminating the confidence of investors in the world’s second-largest economy.
The failed deal has revived the focus of Soho China Pan Shiyi founders Zhang Xin. Married men and women are similar to the growth of skylines in Beijing and Shanghai and have been actively discussing China and social media since the agreement was announced.
“You want to run away with your money? You don’t want to be here and tell us to get rich? “asked journalist Zhang Yixuan, writing on Weibo, a Chinese platform as a Chinese microblogging.
Chinese journalists and internet users have criticized the couple, who have recently been out of the country for some time. a large contribution going to Harvard University and Buying land in the US made headlines.
Blackstone’s relationship ended, with photos of Pan and Zhang gone US Open tennis Competition in New York over the weekend spread rapidly on television.
“That’s why he’s already gone,” said a media user.
“They have transferred their assets long ago,” said one.
For Blackstone, the confiscation of Soho’s real estate in China’s largest cities hurt his founder Thoughts of Stephen Schwarzman strengthening his organization in this country.
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