China Vanke shares soar on B-share migration to Hong Kong

Shares in China Vanke shot up by their daily limit on Monday after the major property developer said its foreign-currency B-shares would move to Hong Kong, the second firm to have left the mainland’s moribund B-share market in Shenzhen.

Vanke’s B-shares, which are denominated in Hong Kong dollars, opened up 10 per cent - the maximum intraday gain mainland shares are allowed to post - at HK$13.75 per share from HK$12.50 at last close.

Its yuan-denominated A-shares also opened at the top of the trading limit, at 11.23 yuan per share, up from 10.21 yuan.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1132894/china-vanke-shares-soar-b-share-migration-hong-kong