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SUNAC Plans to Allot 754M+ Shrs to Pay off ~RMB5.6B of Domestic Debt
2025-07-04 12:06:06 On 3 July, SUNAC (01918.HK) entered into the Subscription Agreement with the Special Purpose Vehicle, Bright Excellent (BVI) Investment, pursuant to which, the Company will allot and issue over 754 million shares, which will be utilized for the repayment to the holders of the Onshore Bonds who have elected the Equity Option, representing approx. 6.58% of the Company's enlarged issued share capital, according to SUNAC's announcement. The consideration for the issue of the Shares shall be that the holders of the Onshore Bonds under the Equity Option to the cancellation or repayment of the Onshore Bonds of RMB5.589 billion in aggregate, which is equivalent to approx. RMB7.41 or approx. $8.05 per subscription share, representing a premium of approx. 440.3% over the closing price of $1.49 per SUNAC share yesterday (3rd). Closing is subject to the approval from Listing Committee of the Stock Exchange for the listing of, and the permission to deal in, all the Subscription Shares. It is expected that, upon completion of the issue, the shareholding of the public shareholders will be diluted from 74.1% to 69.22%, and the shareholding of Chairman Sun Hongbin will be reduced from 25.59% to 23.9%. ~ AAStocks Financial News Website: www.aastocks.com | |