Foresea Life Insurance Co., Ltd. on Thursday denied market rumor of buying in massive amount of shares of China's leading property developer China Vanke Co. (000002.SZ), Shanghai Securities News reported on Thursday.
Recent media report unveiled that Foresea Life Insurance bought 3.52 billion shares of Vanke in a bid to rival with China Resources Co., Ltd. for the biggest shareholder position of developer.
According to a Vanke statement on November 20, Foresea Life Insurance and its persons in concert held a combined 1.66 billion A shares of Vanke by November 17, accounting for 15.04 percent of the total, while China Resources and its wholly-owned subsidiary held a total of 1.69 billion A shares of the developer, representing 15.29 percent of the total.
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