$SUNAC (01918.HK)$It was announced on Thursday morning that 452 million placing shares would be placed at HK $10 per share, with a total proceeds of HK $4.52 billion. The matching price is about 15.3% off the closing price of HK $11.80 per share.
Rongchuang said that the purpose of placing and subscribing is to further expand the shareholder base and optimize the capital structure. The company intends to use about 50% of the net proceeds from the subscription to general working capital and 50% to repay the loan.
Sunac China and Morgan Stanley entered into a placing and subscription agreement, placing and subscribing 452 million new shares on an old-to-new basis, accounting for 9.05 per cent of Sunac China's existing issued share capital and about 8.30 per cent of the enlarged company's share capital.
Sell back blood
Yesterday, with regard to the fact that the shares of several companies held by Sunac China's Rongchuang Real Estate Group were frozen by the court, the company responded that the incident was a small dispute between the company and its partners, and that the two sides had been reconciled and the matter had been properly settled. The two sides are actively cooperating to complete the seizure and revocation process.
Although the small dispute over financing has been properly resolved, the fact that financing is tight does not seem to have been completely resolved. In addition to today's fund-raising in the stock market, financing has returned funds in a variety of ways last year.
As the industry environment continues to be grim, from the end of October 2021, the asset division of Sunac.