Chinese developer Sunac sells $530 mln American depositary shares of KE Holdings
The Chinese property developer had sold an aggregate 26.71
million ADS of KE Holdings (BEKE), equivalent to 80.14 million KE
Holdings Class A ordinary shares, in the open market
Sunac China (SCCCF), with market value of
"The disposals, realising its financial investment as
scheduled, are conducive to the group in focusing on the
development of its main business and further optimising the
asset structure of the group," Sunac Chairman
The developer said it expected to record a loss before
taxation of
Sunac China (SCCCF) has invested in KE Holdings (BEKE) for more than four years and it is optimistic about the future development of the integrated online and offline housing platform. It gave no details on its holding after the disposal.
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