Dec 09, 2021 05:06 AM

Sunac Further Cuts Stake in Ke Holdings to Raise Funds

What’s new: Chinese real estate developer Sunac China Holdings Ltd. sold $530 million of shares in New York-traded Ke Holdings since Oct. 29, slashing its holding in the operator of real estate agency Lianjia to less than 1%.

The sales brought Sunac’s total disposals of Ke stock to $1.08 billion since June 1, the company said. The property company has been raising large amounts of cash in the face of tightening credit under the weight of Chinese government pressure.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription