[ad_1]
HONG KONG (Reuters) – Chinese real estate developer Sunac China Holdings Ltd said on Thursday it planned to raise HK 4,520 million ($ 580.09 billion) to repay loans from the sale of shares and repay overall corporate objectives.
The Hong Kong-listed developer plans to sell 452 million new shares, or 8.3% of the capital raised, in a case against the controlling shareholder Sunac International Investment Holdings, the Hong Kong Stock Exchange.
The new shares will be issued for HK $ 10 each, with a 15.3% discount for HK $ 11.80 each on Wednesday.
Shares of Sunac were down 22% in the afternoon trading to HK $ 9.2, compared to a 0.2% drop in the broad market.
A source close to Sunac told Reuters that the company has no plans to raise capital for its shares or shares in the Sunac Services unit in the short term, adding that it has sufficient funds to meet its short-term debt repayment obligations and develop projects. .
Sunac China did not immediately respond to a request for comment.
Sunac issued new shares for the last time and sold its stake in Sunac Services in November to raise a total of $ 948 million.
Sunac Services told investors on Tuesday that it did not plan a new share location plan or new connected transactions and would resume buying shares, according to a report by Jefferies brokerage.
At the location of the last shares, the controlling shareholder will buy new shares after selling the same number of existing shares at the same price to third-party investors.
Morgan Stanley & Co (NYSE :). International plc is a location agent.
($ 1 = $ 7.79 Hong Kong dollars)
Fusion Media or anyone involved with Fusion Media will not be held liable for any loss or damage as a result of relying on the information contained in the data, estimates, charts and buy / sell signals contained in this website. Please be informed that one of the most risky forms of investment possible is the full information on the risks and costs associated with trading in the financial markets.
[ad_2]
Source link
