Sunac China shares plunge

Sunac China shares, bonds sink after liquidation petition filed against developer
Sunac China shares and bonds plunged on Friday (Jan 10) after a liquidation petition was filed against the property developer, adding to concerns over its business recovery and repayment ability despite an offshore debt restructuring in 2023.
Developer Sunac China Gets Liquidation Petition, Hong Kong Judiciary Website Shows
(Reuters) - A liquidation petition has been filed against indebted property developer Sunac China, the Hong Kong judiciary's website showed late on Thursday. The petition has been filed by a unit of asset manager China Cinda Asset Management, and a hearing is scheduled for March 19, the website shows.
Developer Sunac China Receives Liquidation Petition in Hong Kong
Defaulted builder Sunac China Holdings Ltd. has received a liquidation petition in Hong Kong, according to the city’s judiciary website.
Sunac China Shares Fall Sharply After Receiving Winding-Up Petition
Shares of Chinese property developer Sunac China tumbled after the company received a winding up petition as the country continues to struggle with its property sector downturn. Shares fell 24% to 1.33 Hong Kong dollars, or equivalent of 17 U.S. cents, on Friday's afternoon trading.
Sunac China shares plunge after liquidation petition filed against developer
Sunac China shares dropped as much as 30% on Friday after a liquidation petition was filed against the indebted developer, making it the latest company to face such a move amid an unprecedented debt crisis in China's property sector.
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