Vanke plans stake sale for overseas push

China Vanke Co Ltd, the country's largest residential property developer, said on Wednesday it was in talks with global investors, including funds and real estate peers, to sell a strategic stake as the company seeks to expand overseas and tap offshore capital markets.

The stake sale could be accomplished by issuing new shares or via the purchase of shares from the secondary market, Vanke Chairman Wang Shi told reporters at the company's Hong Kong-listing ceremony on Wednesday.

"By moving to Hong Kong, it will help our international brand ... help to attract strategic investors. It will be more healthy for Vanke to leverage on this international platform," Wang said.