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China Vanke shareholder lifts pledge for 91 million shares

China Vanke Co. Ltd. shareholder Jushenghua Co. Ltd. on Nov. 29 lifted a pledge of 91 million China Vanke A shares that it had earlier pledged to Penghua Asset Management (Shenzhen) Co. Ltd.

The shares that were pledged to the asset manager accounted for 0.82% of China Vanke's total issued share capital.

In a release, China Vanke said Jushenghua had completed the lifting process for the pledged shares with China Securities Depository and Clearing Co. Ltd., Shenzhen branch.

Jushenghua holds 926,070,472 China Vanke A shares as of Nov. 29, which represents 8.39% of the latter's total share capital. The asset manager has pledged a total of 835,067,300 China Vanke shares so far, or 7.56% of the developer's total share capital.