Property News · July 7, 2017

Sunac China shares plunge on LeEco’s worsening crisis


Shares of Sunac China slumped in Hong Kong on Friday as investors fear that the developer could suffer a big loss from its 15 billion yuan (US$2.2 billion) bet on the cash-strapped LeEco Group, and would be forced to take over operations of the group’s core business.
Sunac shares plummeted 7 per cent to close at HK$14.80 on Friday. The stock has dropped 12 per cent in the past four trading days, wiping off more than HK$8 billion in market value for the country’s seventh largest…

Source : South China Morning Post
Read more…Sunac China shares plunge on LeEco’s worsening crisis

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