Sunac China drops most in 3 months on liquidation petition

Sunac China Holdings

10/01/2025 02:44

** Sunac China  1918.HK  slides as much as 29.7% to HK$1.23,
set for biggest one-day pct decline since Oct. 8, 2024
    ** Stock hits lowest since Sept. 26, 2024; top pct loser on
index tracking properties and construction stocks  .HSCIPC ,
which slips 0.8%
    ** Liquidation petition was filed against indebted property
developer by a unit of asset manager China Cinda Asset
Management  1359.HK 
    ** Hearing scheduled for March 19
    ** Earlier this week, sources close to co said property
developer unlikely to meet September bond maturity deadline,
which is part of its restructuring process
    ** Stock set to for fifth straight week of losses

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))