Sunac China Holdings Ltd (1918.HK)
21 Feb 2018
Wed, Feb 14 2018
* REFERS TO INVESTMENT BY CO IN AGGREGATE AMOUNT OF ABOUT RMB15.041 BILLION IN LESHI INTERNET, LESHI ZHIXIN AND LESHI PICTURES
* CONTRACTED SALES VALUE AMOUNTED TO RMB22.18 BILLION IN JANUARY 2018
BRIEF-Sunac China Holdings Says Co To Acquire 3.91% Of Shares In Dalian Wanda Commercial Properties
* ANNOUNCES STRATEGIC COOPERATION RELATING TO DALIAN WANDA COMMERCIAL PROPERTIES
* Leshi shares drop daily limit of 10 pct after 9-mth suspension
* DECEMBER GROUP ACHIEVED A SUBSCRIPTION VALUE OF RMB63.95 BILLION
HONG KONG (Reuters Breakingviews) - A chastened Tianjin-based property developer is laying the foundation to build a better balance sheet. Sunac China Holdings plans to raise $1 billion by selling discounted shares. Thanks to a 380 percent rise in the company's share price over the last 12 months, it's a good time to tap the market for cash. Given how aggressive Chairman Sun Hongbin has been, though, he probably will need to do so again.
HONG KONG, Dec 15 Property developer Sunac China Holdings Ltd said on Friday it would sell HK$7.82 billion ($1 billion) worth of new shares to its major shareholder, the second share placement in five months after it vowed to slash its debt ratio.
HONG KONG, Dec 15 Property developer Sunac China Holdings Ltd said on Friday it would sell HK$7.82 billion ($1 billion) worth of new shares to its major shareholder, raising proceeds for general working capital.
* ENTERED INTO PLACING AND SUBSCRIPTION AGREEMENT TO PLACE 251.5 MILLION SHARES AT A PRICE OF HK$31.1 PER SHARE
* TSE CHI WAI TENDERED RESIGNATION AS AN INDEPENDENT NON-EXECUTIVE DIRECTOR Source text for Eikon: Further company coverage: