Australia's Sunland Group falls after co says may cease ops by June

Sunland

30/09/2022 05:37

delisting     ** Residential property developer Sunland Group
Ltd  SDG.AX  falls as much as 1.7% to A$2.350, lowest since June
13
    ** Says co will have no further or active projects or
material business assets remaining after April 2023 and by June
30  urn:newsml:reuters.com:*:nFWN3101BW
    ** Says co may take steps to cease operating around June
2023 and in that case delisting is a likely option
    ** Co says it intends to maintain its listing on ASX whilst
directors continue to assess most appropriate way to finalise
strategy 
    ** Shares on track for a loss of 7.8% this month 
    ** 93,607 shares change hands vs 30-day average of 47,900
shares
    ** Stock has fallen 2.9% this year, as of last close 
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))