Sunac turns to equity to reduce debt

Heavily-indebted property developer capitalises on share price surge to raise $516 million from top-up placement.
Sunac bought the majority stake in 13 Wanda theme parks.
Sunac bought the majority stake in 13 Wanda theme parks.

Sunac China Holdings has taken advantage of its skyrocketing share price to execute a HK$4 billion ($516 million) top-up placement that has raised much-needed capital to reduce its leverage after a series of high-profile acquisitions that have greatly expanded its landbank. 

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media