Sunac China (01918) plans to discount approximately 19.97% of old and new placements, up to 489 million shares to raise about HK$1,192 million

According to Zhitong Finance App, Sunac China (01918) announced that on October 17, 2024, the company, the seller Sunac International Investment Holdings Limited and the placement agent (CICC International) entered into a placement and subscription agreement. Based on this, the placement agent agreed to act as the seller's agent and do its best to induce the undertaker (as the buyer) to purchase no more than 489 million shares at HK$2,465 per share. The placement price was HK$2.465 per share, a discount of approximately 19.97% compared to the closing price of HK$3.08 per share as reported on October 16, 2024 (the last full trading day before the date of the placement and subscription agreement).

The seller conditionally agreed to subscribe for no more than 489 million subscription shares at an allotment price of HK$2.465 per share. Placed shares and subscribed shares each account for about 5.60% of the company's current issued share capital, and about 5.31% of the company's issued share capital after the subscription was extended (assuming that from the date of this announcement until the subscription was completed, there was no change in the company's issued share capital other than the issuance of subscription shares). The total proceeds from the subscription process were approximately HK$1,2005 billion and the net proceeds amounted to approximately HK$1,192 billion.