Property News · July 24, 2017

Sunac seeks US$537 million in share placement after Wanda acquisition


Sunac China, one of the country’s most indebted developers, is raising up to HK$4.2 billion (US$537 million) in a share placement after it agreed to buy Dalian Wanda Group’s tourism projects for 43.8 billion yuan last week.
Sunac China is selling 220 million shares, priced between HK$18.33 to HK$19.10 each in a top-up placement, according to the terms revealed.
Last week, Wanda Group said it would sell its hotel assets for 19.9 billion yuan (US$3 billion) to Guangzhou R&F…

Source : South China Morning Post
Read more…Sunac seeks US7 million in share placement after Wanda acquisition

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