Yanlord: Shanghai Securities News reports that Gemdale Corp has cut prices for one of its apartment projects in Shanghai by 15% to Rmb16,500 psm. Paper also reported that Yanlord Land and Greentown China are among other homebuilders that have lowered prices for apartments in Shanghai.
Yanlord has collapsed 74% since hitting a peak of $2.84 in Aug 09 and is now hovering at a 2 ½ year low. Stock is currently trading at 48% discount to its NAV of $1.39.
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