Sunac China hits over 4-month high as unit plans special dividend

Sunac Services Holdings

06/09/2023 04:07

** Shares of property developer Sunac China Holdings Ltd
 1918.HK  jump 34.2% to HK$2.12, highest since April 21; on
course for a third consecutive session of gains
    ** Stock is the biggest pct gainer in Hang Seng Composite
Index  .HSCI  and Hang Seng Composite Index on properties and
construction stocks  .HSCIPC 
    ** Sunac China's property services arm Sunac Services
Holdings Ltd  1516.HK  says it will hold a board meeting on
Sept. 14 to consider payment of a special dividend of not more
than HK$0.235 per share to shareholders 
    ** Sunac China owns 1.98 bln shares, representing 64.82% of
Sunac Services
    ** Shares of Sunac Services jump 11.1% to HK$2.91, highest
since May 9
    ** Sunac China, which posted August contracted sales of 4.19
bln yuan ($572.7 mln) as compared to July's 5.12 bln yuan, has
been included in Stock Connect effective Sept. 5
    ** Hang Seng Mainland Properties Index  .HSMPI  jumps 2.3%
and Hang Seng Composite Index on properties and construction
stocks  .HSCIPC  gains 0.8%
    ** Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  both slip 0.6%
    ** As of last close, stock of Sunac China had dropped 65.5% 
this year while Sunac Services was down 37.6%


($1 = 7.3160 Chinese yuan renminbi)

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