Wang Zhenhua’s the owner of Future Land Development tried to do buy back privatization which is failed as shareholders rejected its offer of HK$3.30 per cash bid. Shareholders believe that company worth more than the offer proposed by Wang.
The company held a meeting with shareholders on Tuesday morning, where more than 10% individual shareholders voted against him.
“We respect the decision by the market and shareholders,” Kenny Chan, company secretary and executive director at Future Land Development, told the media reports after the meeting.
These may be the positive sign for the shareholders to see an up movement in share prices.
One of the shareholders Mr. Yi said that "I didn’t accept the plan as I think Future Land is worth at least HK$5.50-6.00 (per share),”
He said that"The company is growing fast, chairman Wang should focus more on developing properties rather than getting involved in capital matters,”
Two of the biggest developers, CK Assets, and Sun Hung Kai Properties, are likely to break their own joint sales records, because the additional expenses incurred on the flat transactions used by the government send buyers to new homes, agencies say.
The number of new flats sold in Hong Kong has been recorded as this record, as well as the possibility of breaking the combined sales record of the two largest developers, plus the combined full year, another indication is that residential properties in the city Despite strong demand, it is strong. Rising price
“As used flats became more expensive with down payments as well as stamp duties, agency fees, and other costs, potential buyers are more inclined to go for new flats, which are priced more attractively [and often come with] good mortgage deals,” Lam said.
Thomas Lam, head of valuation and consultancy at Knight
Frank said that “Most potential buyers now cannot afford down payments even though they can pay mortgages,”
These are signals that Hong Kong real estate may have a bright future for real estate investors and real estate shareholders.