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Shares of Chinese office developer SOHO China fell 40 percent early Monday. It was the biggest daily drop since going public 14 years ago after Blackstone Group scrapped a $3 billion acquisition deal.Shares fell as low as 2.23 Hong Kong dollars. This is the lowest since November 3, 2020,
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the worst day since listing in October 2007.SOHO China said Blackstone, which offered HK$5 per share in June to buy all of its stake in the company. It canceled the deal on Friday because it failed to meet the preliminary conditions.
The company had said in June that the deal was subject to the authorization of Chinese competition authorities.It will be the largest real estate deal in China.SOHO China is 64 percent owned by the husband-and-wife founding team of Chairman Pan
Shiyi and Chief Executive Zhang Xin,who surveyed buyers for key commercial properties as they shift their focus to international markets.racking properties, the Hang Seng Composite Index and construction stocks and benchmark index both fell 1.6%.
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