China Evergrande Group, a real estate conglomerate, announced Monday that it has bought 6.82 percent of issued A shares of China Vanke, the country's largest developer by market value.
Evergrande owned 4.68 percent of Vanke as of Aug. 4, the company said in an earlier statement.
"Between Aug. 8 and 15, Evergrande bought 235.79 million shares of Vanke via Evergrande's affiliated companies," the company said in a recent statement filed to the Hong Kong stock authority.
On Monday, Vanke's shares in Shenzhen surged by the daily limit of 10 percent.
