HONG KONG : Chinese property developer Sunac China Holdings Ltd said on Thursday it planned to raise HKUS$4.52 billion 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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