CEO of Kaisa Group Holdings (1638.HKG) Jin Zhigang resigned Monday in what the company described as a move that would allow him to devote more time to his personal career development, The Wall Street Journal reported. The troubled mainland property development firm did not announce a successor or respond to requests for comment. The Sunday announcement of plans by Sunac China Holdings (1918.HKG) to buy stakes and debt in four of Kaisa’s Shanghai projects appeared to fall short of analyst expectations, with some hoping the deal would represent a significant stake in the company if not an outright takeover.
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