Why KE Holdings (BEKE) Shares Are Rising

KE Holdings Inc - ADR BEKE shares are trading higher by 7.16% to $15.87 during Wednesday's session. Shares of Chinese companies at large are trading higher after Chinese regulators reportedly approved a capital raise for Ant Group.

What's Happening?

The China Banking and Insurance Regulatory Commission division approved the company’s plan to raise its capital to 18.5 billion yuan, reported Bloomberg, citing a notice dated Dec. 30.

Following the deal, Ant, which contributed 5.25 billion yuan, will control half of its shares while a unit owned by the city of Hangzhou will hold 10%, the report said...Read More

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KE Holdings Inc is engaged in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China.

According to data from Benzinga Pro, BEKE has a 52-week high of $24.85 and a 52-week low of $7.31.