China's top homebuilder Vanke says it will put out the capital restructuring plan within 30 days following Friday's suspension of its stock trading at its request.
This means Vanke stocks could resume trading by January 18. Over the weekend, there were multiple reports on possible partnerships Vanke could forge to keep control of the company.
They include COFCO, China's largest food processor, but none have been confirmed. And COFCO denied the reports that it would take part in the new shares issuance.
Foresea Life Insurance, an aggressive buyer of Vanke stock, says all the capital in Vanke's stocks are in line with regulatory requirements.
Analysts say Vanke still needs outside capital or an alliance to retain control. Others say the Baoneng Group, the parent company of Foresea Life Insurance, has already seen great advantage as it bought Vanke shares low, and the stocks have spiked since.
The war of words started last week when Vanke founder Wang Shi said he did not want Baoneng Group to control the company, saying Baoneng lacks credibility.