Movement Alert｜Sunac China Rises 6.45% in Regular Trading, Remaining USD 2.533 Billion Mandatory Convertible Bond 1 Fully Converted to Shares

Market Focus07-02

On July 2, Sunac China rose 6.45% in regular trading, trading at HKD 0.66 per share, with turnover of HKD 51.07 million.

On the news front, Sunac China announced on June 30 that its zero-coupon Mandatory Convertible Bond 1, issued in December last year, matured on June 23. The remaining outstanding principal of approximately USD 2.533 billion has been fully mandatorily converted into company shares, bringing the outstanding principal to zero. Approximately 2.906 billion new shares were issued upon conversion. The company also disclosed that Mandatory Convertible Bond 2, with a principal of USD 2.4 billion, will begin its conversion period in June next year and mature for mandatory conversion in June 2028. Additionally, the company reached loan extensions totaling approximately RMB 1.1 billion during the period.

The broader Real Estate Development sector rallied in tandem, with China Vanke up 5.66%, China Resources Land up 4.67%, and China Overseas up 4.23%, providing further sentiment support.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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