The second-largest shareholder in China Vanke is not supporting the proposal to remove the real estate developer’s board, relieving some of the pressure that has been building on company chairman Wang Shi.
On Sunday, Vanke said its largest shareholder, the privately held Baoneng Group, had requested a special shareholders’ meeting to oust Mr Wang and his fellow board members.
Both Baoneng, which holds a 24 per cent stake in Vanke, and state-owned China Resources, which holds 16 per cent of shares, opposed a recently announced transaction that would dilute their holdings.
您已閱讀20%（575字），剩餘80%（2310字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。