Sunac China scraps bond amid rumours of selective disclosure

Hong Kong-listed property developer Sunac China calls off its dollar bond offering in unusual circumstances just one day into its global roadshow.

Hong Kong-listed property developer Sunac China abruptly called off its planned Reg-S144a five-year senior note yesterday and released a statement disclosing additional information about its financials.

The company did not give any reason for calling off the deal, but its stock was suspended from trading on Tuesday morning pending the release of “price sensitive information”. It resumed trading only yesterday morning after releasing the five-page statement to the Hong Kong stock exchange.

Sunac China and its joint bookrunners Deutsche Bank, Goldman Sachs and Standard Chartered Bank had planned a series of roadshows in Hong Kong on March 7, Singapore on March 8, London on March 9,...

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