The inept response of regulators to claims of irregularities in a hostile takeover bid for the firm underscores the desperate need for change
Shares of China Vanke, the country's largest home builder, plunged in Shenzhen as their trading resumed on Monday following more than six months of suspension. The stock price tumbled by the daily limit of 10 percent to 21.99 yuan (3.3 U.S. dollars) at the opening of the market.
A prolonged tussle over control of China's largest home builder has triggered a plunge in the company's stock price and calls for better market regulation.
The confrontation between China Vanke Co Ltd, the country's largest residential developer,and its largest shareholder Baoneng Group escalated on Monday after news reportssuggested that Vanke may have sought government support to resolve the crisis.
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