62 out of 70 cities reported higher prices, vs 56 in February Jan-March property investment up 25.6% y/y vs 38.3% in Jan-Feb (Adds property investment data, analysts’ comments)
BEIJING, April 16 (Reuters) - New home prices in China rose at the fastest pace in seven months in March and price rises spread to more cities, data showed on Friday, as property demand remained red-hot despite government efforts to cool the market.
Separate official data also showed property investment remained elevated for the first three months of the year, and sales soared even as authorities further tightened property curbs in dozens of major cities.
Average new home prices in 70 major cities grew 0.5% in March from a month earlier, the quickest pace since August 2020 and up slightly from a 0.4% gain in February, according to Reuters calculations based on data from the National Bureau of Statistics.
(Adds details and background)
HANOI, April 14 (Reuters) - Vietnam’s first domestic car manufacturer, VinFast, said on Wednesday it is considering various fund raising opportunities and investments, including an equity investment via a special-purpose acquisition company (SPAC) or an IPO.
Vinfast, a unit of Vietnam’s largest conglomerate Vingroup JSC, said in a statement “any potential fundraising will be subject to different factors such as market conditions.”
The comments came after sources told Reuters on Monday that Vingroup was considering an initial public offering (IPO) in the United States for VinFast in a deal that could value the carmaker at about $60 billion.
By Reuters Staff
2 Min Read
(Reuters) -Germany’s CPI Property Group and Aroundtown SA on Wednesday offered to buy London-listed Globalworth Real Estate Investments in a deal valued at about 1.57 billion euros ($1.88 billion).
Shareholders in Globalworth, which mainly operates in the office sector in Poland and Romania, will be entitled to get 7 euros per share in cash, CPI said.
The German consortium said it currently holds about 51.5% of Guernsey-incorporated Globalworth. The offer represents a premium of nearly 20% to Globalworth’s last close.
Office real estate has taken a hit during the COVID-19 pandemic as restrictions forced people to work from home, while slow vaccination roll-outs in Europe has cast doubts on the speed of reopening and return to work plans.
By Reuters Staff
2 Min Read
(Reuters) -Globalworth Real Estate’s top shareholders are planning an unsolicited bid valuing the British firm at 1.57 billion euros ($1.88 billion), CPI Property said on Wednesday, sending the shares sharply higher.
CPI and Aroundtown own 51.5% of Globalworth, which operates mainly in the office sector in Poland and Romania.
The proposed bid would offer 7 euros per share in cash, CPI said, a premium of nearly 20% to Globalworth’s last close but news of the move sent the stock up 28% to 7.50 euros on Wednesday.
Globalworth “strongly advised” shareholders not to take any action in relation to the offer as it evaluates it, the firm said in a statement.
Breakingviews
By Reuters Staff
2 Min Read
Window cleaners wash the exterior of an office building in Gdansk, Poland October 24, 2019. Picture taken October 24, 2019.
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
LONDON (Reuters Breakingviews) - WORTH MORE. German property funds CPI Property and Aroundtown are attempting a cheeky raid on eastern European offices. The duo, which collectively own 51.5% of UK-listed Globalworth Real Estate Investments, offered on Wednesday to buy the remainder of the Poland- and Romania-focused group for just under 1.6 billion euros. At first glance, their 7 euro per share bid, a 19% premium to Globalworth’s undisturbed price, looks reasonable. Initial appearances, however, can be deceptive.