Hong Kong stocks fluctuate | sunac(01918) rights issue drags down mainland real estate shares, real estate market conference to be held soon. Institutions say future policies will focus on stabilizing the real estate market.

Mainland real estate stocks fell across the board in the morning session. As of the time of publication, sunac (01918) fell by 13.96% to HK$2.65; r&f properties (02777) fell by 8.04% to HK$1.83; china vanke (02202) fell by 7.52% to HK$7.38; seazen (01030) fell by 4.07% to HK$2.36.

Zhitong Finance10minutes ago

HK stocks anomaly | Sunac (01918) opened nearly 15% lower, proposing a discount of about 19.97% for the sale of up to 0.489 billion shares, prioritizing existing shareholders before new ones.

Sunac (01918) opened nearly 15% lower, as of the time of writing, it dropped by 14.94%, closing at 2.62 Hong Kong dollars, with a turnover of 1.291 billion Hong Kong dollars.

Zhitong Finance28minutes ago

Express News | Shares of Chinese Property Group Sunac Set to Open Down 14.9%

Reuters30minutes ago

Sunac China Pursues Significant Share Placement

TipRanks20:40 ET

CICC Acting as Placing Agent for Sunac China

Dow Jones20:30 ET

Sunac China (01918.HK) plans to sell existing shares first and then issue new shares, with a total fundraising of 1.205 billion Hong Kong dollars.

On October 17, 2024, Sunac issued an announcement that the company, the seller, and the placing agent (i.e. CICC) entered into a placing and subscription agreement. According to this agreement, the placing agent agrees to act as the seller's agent and use best efforts to facilitate the placing person (as the buyer) to purchase up to 0.489 billion shares of placing shares at HK$2.465 per share. The seller conditionally agrees to subscribe for up to 0.489 billion subscription shares at a subscription price of HK$2.465 per share. The placing shares and subscription shares account for approximately 5.60% of the company's existing issued share capital and post-subscription count

Gelonghui Finance20:29 ET