HONG KONG—Shares of Chinese Estates Holdings, a former major shareholder of embattled developer China Evergrande, jumped as much as 32 percent on Thursday after it announced an offer to be taken private for $245 million. The Hong Kong developer said on Wednesday the family of Chinese Estates’ biggest shareholder, Joseph Lau, had proposed to take it private by offering minority shareholders a 38 percent premium to its last traded price. The offer represents the latest move by Lau and China Estates to emerge from the shadow of Evergrande, which is floundering due to a huge debt load and threatening the Hong Kong company’s future. Formerly Evergrande’s second-biggest shareholder, Chinese Estates has already slashed its holding over the past few months to 4.39 percent from 6.48 percent. It has flagged a goal to exit the holding completely, and estimates a loss of $1.33 billion for the current year from the stake …