皇冠体育app

皇冠体育app Vanke Co Ltd, the country's No 2 property developer, plans to raise up to $1.6 billion by selling new shares to fund expansion in a property revival, dealing a blow to the vulnerable stock market.

Vanke joins rivals Gemdale Corp, 皇冠体育app Merchants Property and Poly Real Estate Group Co in a rush to raise money after a government stimulus plan and explosive lending revived 皇冠体育app's stock and property markets.

"Developers, big or small, are all eager to raise money as the real estate market recovers, so Vanke's share sale plan is not a surprise," said Pan Wei, an analyst at Galaxy Securities Co.