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
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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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