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
Sat, Dec 16, 2017 - 5:50 AM
In September, Sunac China said that it would slow the rate of land purchases to boost profit and slash its debt ratio, after massive acquisitions attracted attention from a government bent on reducing corporate debt.
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.