Developer China Vanke says in talks to attract strategic investors

June 25 Tue Jun 24, 2014 11:04pm EDT

June 25 (Reuters) - 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.

The stake sale could be through the issue of new shares, or via the purchase of shares from the secondary market.

Chariman Wang Shi, speaking at a ceremony to mark the conversion of the company's B-shares in Shenzhen into H-shares , added that it is necessary for the mainland property market to correct now.

(Reporting By Clare Jim; Writing by Anne Marie Roantree; Editing by Michael Perry)