International shareholders that took control of Chinese property group Nam Tai have been waging a six-month battle to force out its management, highlighting the risks for overseas investors looking to gain control of assets in the country’s troubled real estate market.
US-listed Nam Tai, which owns property in the fast-growing city of Shenzhen, has been at the centre of a long-running legal fight between Kaisa, one of China’s biggest developers, and IsZo, a small fund based in New York that owns just under a fifth of Nam Tai.
Other prominent international shareholders in Nam Tai include US billionaire Peter Kellogg and Hong Kong-based Oasis Management.