Sunac China plans HK$7.82b share sale for working capital
This is the highly leveraged firm's second share placement in five months after it vowed to slash its debt ratio
Hong Kong
PROPERTY developer Sunac China Holdings Ltd said on Friday it would sell HK$7.82 billion (S$1.35 billion) worth of new shares to its major shareholder, the second share placement in five months after it vowed to slash its debt ratio.
The highly-leveraged company has tapped offshore financing channels after a string of high-profile purchases led to increased scrutiny of its credit risks in China, including a US$6.52 billion deal with Dalian Wanda Group and a US$2.2 billion stake in Leshi Internet.
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