Developer Sunac China plans US$580 million share sale to repay loans

Developer Sunac China plans US$580 million share sale to repay loans

13/1/2022 4:02:00 AM

Developer Sunac China plans US$580 million share sale to repay loans

HONG KONG : Chinese property developer Sunac China Holdings Ltd said on Thursday it planned to raise HKUS$4.52 billion (US$580.09 million) from a share sale for repayment of loans and general corporate purposes.The Hong Kong-listed developer plans to sell 452 million new shares, or 8.3per cent of the enla

HONG KONG : Chinese property developer Sunac China Holdings Ltd said on Thursday it planned to raise HKUS$4.52 billion (US$580.09 million) from a share sale for repayment of loans and general corporate purposes.The Hong Kong-listed developer plans to sell 452 million new shares, or 8.3per cent of the enlarged share capital, to controlling shareholder Sunac International Investment Holdings, it said in a filing to the Hong Kong bourse.

The new shares will be issued at HKUS$10 apiece, representing a 15.3per cent discount to Wednesday's closing price of HKUS$11.80 each.The controlling shareholder will buy the new shares after selling the same amount of existing shares at the same price to third-party investors.

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LinkedIn HONG KONG : Chinese property developer Sunac China Holdings Ltd said on Thursday it planned to raise HKUS$4.LinkedIn SHANGHAI: China supports Russian-led forces deployed to Kazakhstan to help quell unrest, China's Foreign Minister Wang Yi told Russian Foreign Minister Sergei Lavrov late on Monday (Jan 10).LinkedIn BEIJING :Volkswagen AG sold 70,625 of its ID electric vehicles in China last year, missing its goal of selling 80,000 to 100,000 cars, the company said on Tuesday.Copy to clipboard https://str.

52 billion (US$580.09 million) from a share sale for repayment of loans and general corporate purposes. Wang added that China and Russia should"oppose external forces interfering with the internal affairs of central Asian countries", and prevent"colour revolutions" and the"three evil forces" from causing chaos, the readout stated. The Hong Kong-listed developer plans to sell 452 million new shares, or 8. Supply chain constraints, including a global chip shortage, impacted production and were factors that contributed to Volkswagen failing to reach its ID sales goal, Wollenstein added.3per cent of the enlarged share capital, to controlling shareholder Sunac International Investment Holdings, it said in a filing to the Hong Kong bourse. Government buildings in Kazakhstan were briefly captured or torched in several cities last week as initially peaceful protests against fuel price increases turned violent. The new shares will be issued at HKUS$10 apiece, representing a 15. The United States is facing a surge in infections caused by the highly contagious Omicron variant and on Monday had 132,646 people hospitalised with Covid, surpassing the record of 132,051 set in January 2021.

3per cent discount to Wednesday's closing price of HKUS$11. Authorities have blamed the violence on"extremists", including foreign-trained militants. The list was dominated by Chinese automakers, including BYD, Wuling, as well as Nio and Xpeng, according to consultancy Automobility.80 each. The controlling shareholder will buy the new shares after selling the same amount of existing shares at the same price to third-party investors. China's President Xi Jinping on Friday told Kazakhstan President Kassym-Jomart Tokayev that China resolutely opposed any force destabilising Kazakhstan, Chinese state television said. Morgan Stanley & Co. International plc is the placing agent. Since the Covid-19 pandemic, China and the United States have sparred over air services.

(US$1=7.7919 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Muralikumar Anantharaman) Source: Reuters .