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Developer Soho China says received $3b takeover offer from Blackstone
CGTN
Galaxy Soho, a commercial complex developed by Soho China, Beijing, China, September 23, 2021. /CFP

Galaxy Soho, a commercial complex developed by Soho China, Beijing, China, September 23, 2021. /CFP

Office developer Soho China on Wednesday said it received a takeover offer from private equity giant Blackstone Group for HK$23.66 billion ($3.05 billion).

The company said its listing on the Hong Kong stock exchange would be maintained after the offer is closed, and its existing shareholders will retain 9 percent of the equity.

Soho China's stock price surged 48 percent last week, marking the biggest jump since its IPO in 2007.

According to its website, Soho China has developed 54 million square feet of properties.

(With input from Reuters)

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