trending Market Intelligence /marketintelligence/en/news-insights/trending/0s43EXUWUS02G7R8jdctPw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Sunac China expects to raise HK$7.96B from share sale

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Sunac China expects to raise HK$7.96B from share sale

Sunac China Holdings Ltd. said it expects to raise about HK$7.96 billion in net proceeds from its offering of 186,920,000 shares.

The offering was priced at HK$42.80 per share.

Through the offering, Sunac China aims to further enlarge its shareholders' equity base and improve its capital structure. The Chinese developer also noted in a Jan. 10 filing that the net proceeds arising from the offering will be used for general corporate expenditures.

Shares comprising the offering reflects about 4.20% of the company's existing number of issued shares and roughly 4.03% of the total issued shares as enlarged by the offering. The per-share price of the offering provides an about 8.25% discount to Sunac China's HK$46.65-per-share closing price as of Jan. 9 and a roughly 8.06% discount to its average closing price of HK$46.55 per share for the five days until the same date.

The offering is set to be completed Jan. 17.

Morgan Stanley & Co. International PLC is acting as the placement agent.