Sunac Cuts Stake in Ke Holdings to Raise $530mn
Sunac China cut its stake in NYSE traded Ke Holdings’ shares worth $530mn, taking its total disposals of the company’s stock to $1.08bn since June 2021. Sunac said that proceeds from the stake sale would be used for working capital purposes. Ke Holdings is...
Sunac’s Dollar Bonds Drop Across the Board
China Sunac’s dollar bonds across the curve saw a drop of over 5% yesterday. While there was no specific news regarding the company, the drop comes on the back of a broad weakness in the property sector. Its peers like Agile, Yuzhou and Shimao also saw their...
Sunac Raises $953mn via Share Sales; Chairman Lends $450mn
China Sunac raised $953mn via share sales, helping build its coffers when funding markets have remained tight and asset sales have slowed for property developers. It sold 335mn shares at HKD 15.18/share, raising ~$653mn. It additionally sold 158mn shares in its...
