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China Vanke shareholder pledges shares to Ping An Securities

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China Vanke shareholder pledges shares to Ping An Securities

China Vanke Co. Ltd. shareholder Jushenghua Co. Ltd. pledged 69,710,000 China Vanke A shares to Ping An Securities Co. Ltd., with the pledge period having commenced Oct. 13.

The shares pledged by the shareholder based in Shenzhen, China, represent 0.63% of China Vanke's total issued share capital, according to a filing. Jushenghua's stake in the developer remains at 8.39%, unchanged from the previous time it pledged 182 million A shares as collateral to Ping An Securities in March.

As of Oct. 13, the shareholder said it directly holds 926,070,472 China Vanke A shares.

Jushenghua is a unit of Baoneng Group, which was previously China Vanke's largest shareholder.