Mainland real estate stocks plummeted during the trading session, as of the time of writing, Sunac (01918) fell by 22.4%, closing at 2.41 Hong Kong dollars; Zhongliang Holding (02772) fell by 14.81%, closing at 0.138 Hong Kong dollars; R&F Properties (02777) fell by 12.06%, closing at 1.75 Hong Kong dollars.
According to the Zhutong Finance and Economics APP, mainland real estate stocks plunged during the trading session. As of the time of writing, Sunac (01918) fell by 22.4%, closing at 2.41 Hong Kong dollars; Zhongliang Holding (02772) fell by 14.81%, closing at 0.138 Hong Kong dollars; R&F Properties (02777) fell by 12.06%, closing at 1.75 Hong Kong dollars; Sino-Ocean Group (03377) fell by 11.84%, closing at 0.335 Hong Kong dollars.
On the news front, Sunac announced that it plans to issue up to 0.489 billion shares in an 'old-for-new' manner, accounting for approximately 5.31% of the enlarged share capital, priced at 2.465 Hong Kong dollars per share, a discount of about 19.97% from the closing price of 3.08 Hong Kong dollars on October 16. The total amount raised from the subscription is about 1.205 billion Hong Kong dollars, with a net amount of about 1.192 billion Hong Kong dollars. The funds raised are mainly intended to support the long-term solution of domestic enterprise bonds and general operating funds.
