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    1918   KYG8569A1067

SUNAC CHINA HOLDINGS LIMITED

(1918)
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Property Developer Sunac China to Raise $952 Million

11/14/2021 | 05:39pm EST

By P.R. Venkat

Property developer Sunac China Holdings Ltd. is raising 7.42 billion Hong Kong dollars ($952 million) to partly repay its debt.

The company will raise a total of HK$5.09 billion by issuing 335 million shares for HK$15.18 each and another HK$2.33 billion by selling a 5.1% stake in its unit Sunac Services Holdings Ltd., the company said late Sunday.

Many of China's property developers are facing severe liquidity issues as regulatory curbs on borrowing, coupled with slowing home sales, have heaped pressure on companies including conglomerate Evergrande Group.

Last week, Fantasia Holdings Group Co.said that some lenders were asking for loans to be repaid early, which dragged its stock to an over decade lows.

Sunac also said that its controlling shareholder Sun Hongbin has agreed to provide $450 million to the group in the form of interest-free loans to support the business.

Investment bank Jefferies said the fund raising will help Sunac "get over its short-term tight liquidity that is driven by weak sales/refinancing difficulty."

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

11-14-21 1739ET

Stocks mentioned in the article
ChangeLast1st jan.
SUNAC CHINA HOLDINGS LIMITED -5.94% 10.76 End-of-day quote.-8.66%
SUNAC SERVICES HOLDINGS LIMITED -1.32% 8.98 End-of-day quote.12.96%
All news about SUNAC CHINA HOLDINGS LIMITED
01/21Hang Seng inches higher on property, consumer boost
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01/20China property shares, bonds rally on hopes govt measures will aid liquidity
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01/20Hong Kong shares jump most in 6 months after China cuts policy rates
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01/19China stocks rise as policy rate cuts lift sentiment
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01/19Shares of sunac china set to open up 6.6%; shimao group set to open up 4.8%
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01/17Hong Kong shares finish lower on tech slide; gambling stocks surge
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01/14Nomura Adjusts Sunac China Holdings' Price Target to HK$16.7 From HK$46.1, Keeps at Buy
MT
01/13Hong Kong shares inch higher as financials gain; developers slump
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01/13Sunac China Skids After Share Placement Plans
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01/12China stocks fall after weak Dec lending data; property, consumption drop
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More news
Analyst Recommendations on SUNAC CHINA HOLDINGS LIMITED
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Financials
Sales 2021 269 B 42 550 M 42 550 M
Net income 2021 29 783 M 4 706 M 4 706 M
Net Debt 2021 175 B 27 728 M 27 728 M
P/E ratio 2021 1,54x
Yield 2021 15,0%
Capitalization 47 669 M 7 531 M 7 532 M
EV / Sales 2021 0,83x
EV / Sales 2022 0,69x
Nbr of Employees 68 663
Free-Float 60,4%
Chart SUNAC CHINA HOLDINGS LIMITED
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Sunac China Holdings Limited Technical Analysis Chart | 1918 | KYG8569A1067 | MarketScreener
Technical analysis trends SUNAC CHINA HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 21
Last Close Price 8,75 CNY
Average target price 18,94 CNY
Spread / Average Target 116%
EPS Revisions
Managers and Directors
Meng De Wang Chief Executive Officer & Executive Director
Shu Ping Huang Executive President & Executive Director
Xi Gao Chief Financial Officer, Secretary & VP
Hong Bin Sun Chairman
Li Shan Ma Independent Non-Executive Director