On July 3, Sunac China rose 6.25% in regular trading, trading at HKD 0.66/share, with turnover of HKD 54.79 million.

On the news front, the company announced that its mandatory convertible bond 1 issued in December last year matured on June 23, with the remaining outstanding principal of USD 2.533 billion fully mandatorily converted into company shares, reducing the outstanding principal to zero. This milestone marks Sunac as the first large-scale property developer in the industry to essentially clear its offshore debt, representing a major phase of progress in its offshore debt restructuring. The conversion resulted in the issuance of approximately 2.906 billion new shares, increasing total issued shares to 19.965 billion.

Within the Real Estate Development sector, the overall sector strengthened today. Among individual stocks, Country Garden up 6.94%, Longfor Group up 4.16%, China Resources Land up 1.74%, China Overseas up 1.61%, CK Asset up 0.05%.

(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.)