Hong Kong billionaire Joseph Lau and his wife Chan Hoi Wan have offloaded 48% of their stock in China Evergrande Group, the embattled Chinese property giant controlled by Lau’s longtime business ally and friend Hui Ka Yan.
Hong Kong billionaire Joseph Lau and his wife Chan Hoi Wan have offloaded 48% of their stock in China Evergrande Group, the embattled Chinese property giant controlled by Lau’s longtime business ally and friend Hui Ka Yan. Lau and Chan had been Evergrande’s second-largest shareholders with a stake of just over 9% of the indebted property company in late August, but filings to the stock exchange this week show that it’s been cut back to 4.
