Co-founder cashes in $232m via Longfor block

Co-founder Cai Kui sold shares in the Chinese property developer for the first time since resigning from a company management role in 2009.

Co-founder cashes in $232m via Longfor block

Cai Kui, co-founder of Longfor Properties, took advantage of the stock’s recent rally to sell almost a tenth of his stake in the Chinese property developer late on Wednesday.

The secondary block trade raised HK$1.8 billion $232 million and sends a positive signal to the market given the recent paucity of real estate action in the Hong Kong primary market.

So far this year there has not been any equity...

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