Market Insight | Real estate stocks plummet during trading, Sunac China's decline expands by over 20%, Zhongliang Holdings drops nearly 15%
In the intraday trading, as of the time of publication, Sunac China fell by 22.4% to HKD 2.41; Zhongliang Holdings fell by 14.81% to HKD 0.138; R&F Properties fell by 12.06% to HKD 1.75; SINO-OCEAN GP fell by 11.84% to HKD 0.335. On the news front, Sunac China announced a plan to sell up to 489 million shares in a rights issue, accounting for approximately 5.31% of the enlarged share capital of the company. The price per share is HKD 2.465, representing a discount of approximately 19.97% from the closing price of HKD 3.08 on October 16. The total proceeds from the subscription are approximately HKD 1.205 billion, with a net amount of approximately HKD 1.192 billion, mainly intended to support the long-term solution for domestic corporate bonds and general operating funds
According to the information from Zhitong Finance APP, real estate stocks plummeted during the trading session. As of the time of publication, Sunac China (01918) fell by 22.4% to HKD 2.41; Zhongliang Holdings (02772) fell by 14.81% to HKD 0.138; R&F Properties (02777) fell by 12.06% to HKD 1.75; SINO-OCEAN GP (03377) fell by 11.84% to HKD 0.335.
On the news front, Sunac China announced a plan to sell up to 489 million shares in a "sell old before new" manner, accounting for approximately 5.31% of the enlarged share capital of the company. The offer price is HKD 2.465 per share, representing a discount of about 19.97% from the closing price of HKD 3.08 on October 16. The total amount raised from the subscription is approximately HKD 1.205 billion, with a net amount of approximately HKD 1.192 billion, mainly intended to support the long-term solution for domestic corporate bonds and general operating funds