Chinese developer Sunac sells US $ 530 million worth of shares of KE Holdings By Reuters
[ad_1]
HONG KONG (Reuters) – Sunac China Holdings Ltd said on Wednesday that KE Holdings Inc. had sold $ 530 million worth of China’s housing transaction and service platform to raise capital on American deposit shares (ADS).
The Chinese real estate developer sold a total of 26.71 million ADS to KE Holdings, the equivalent of 80.14 million of KE Holdings A Class A common stock, on the open market from October 29 to December 7, it said in a Hong Kong stock exchange filing.
Sunac China, with a market value of HK $ 77.65 billion ($ 9.96 billion), said it had sold a 45.35 million ADS AD to KE Holdings from June 1 to December 7.
“Others, by carrying out their financial investment as planned, are helping the group focus on developing its core business and further optimizing the group’s asset structure,” said Sun Hongbin chairman.
The developer said he expects to record a loss of 5.6 billion yuan ($ 884.58 billion) before taxes since the last one in 2021.
Sunac China has been investing in KE Holdings for more than four years and is optimistic about the future development of its integrated online and offline housing platform. He did not give details of his exploitation after the transfer.
($ 1 = $ 7.7991 Hong Kong dollars)
($ 1 = 6.3646 renminbi)
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 on 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
