China's Cifi Ever Sunshine falls as major shareholder sells stake

Ever Sunshine Services

15/12/2022 03:07

** Shares of property manger Cifi Ever Sunshine Services
Group Ltd  1995.HK  drop as much as 14.4% to HK$4.56, the lowest
since Dec. 2
    ** Stock is the biggest pct decliner in Hang Seng Composite
Index  .HSCI  and eighth most actively traded by turnover in the
Hong Kong bourse
    ** Shanghai-based company says controlling shareholder Elite
Force Development plans sales of 90 mln shares, or 5.15% of the
share capital, to an independent third party at HK$4.85/shr for
HK$436.5 mln ($56.14 mln)  urn:newsml:reuters.com:*:nFWN3343HY
    ** The property management arm of CIFI Holdings  0884.HK 
says it does not expect any adverse effect on its financial
position or business operations 
    ** Shares of CIFI Holdings fall 7.2%
    ** Hang Seng Mainland Properties Index  .HSMPI  falls 2.1%
and Hang Seng Composite Index on properties and construction
stocks  .HSCIPC  falls 1.9%
    ** The Hang Seng Composite Index  .HSCI  falls 1.8% and Hang
Seng Index  .HSI  falls 1.7%
    ** As of last close, stock of Cifi Ever Sunshine had fallen
55.9% this year, while CIFI Holdings down 69.2%
 
 ($1 = HK$7.7757)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))