- Kaisa Group (1638.HK) has recently announced plans to acquire a 17.7% stake in Nam Tai Property Inc. (NTP.NYSE) for US$ 110 million in cash, as reported by Jrj.
Why It Matters:
- Based in China, Nam Tai Property is mainly engaged in property management and development. The company posted a net loss of US$ 9.53 million for 2016.
- Nam Tai Property’s main assets are several large land lots in Shenzhen City and the company plans to build a Research & Development Park on these lots.
- Kaisa Group is a leading Hong Kong-based real estate developer. The company wishes to indirectly participate in the development of the Shenzhen Research & Development Park.