Property News · December 15, 2017

Stock in China’s Sunac plunges after it seeks to raise US$1 billion through share placement


Shares of property developer Sunac China Holdings slumped by as much as 10 per cent on Friday after it said it would raise HK$7.82 billion (US$1 billion) through a share placement.
The firm, chaired by billionaire Sun Hongbin, has agreed to sell 251.5 million shares at HK$31.1 each, an around 11.9 per cent discount to the closing price of Thursday, it said in a filing to the Hong Kong stock exchange.
The announcement sent its shares down 10 per cent to HK$31.35 at one point, the biggest…

Source : South China Morning Post
Read more…Stock in China’s Sunac plunges after it seeks to raise US billion through share placement

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