off-the-wire

Shares of China developer Sunac set to open 57.9% down as trade resumes

Kitco Media
By Reuters
Published:
Updated:
Reuters
HONG KONG, April 13 (Reuters) - Shares of embattled Chinese developer Sunac China were set to slide 57.9% on Thursday after the stock resumed trade following a suspension of more than a year.


The share slump comes a day after the company said in a statement to the Hong Kong stock exchange it was undergoing a restructuring. Sunac published its overdue 2022 interim results last month, showing a core loss of 11.06 billion yuan ($1.61 billion).


($1 = 6.8730 Chinese yuan) (Reporting By Donny Kwok and Anne Marie Roantree; Editing by Jacqueline Wong)

Messaging: annemarie.roantree.thomsonreuters.com@reuters.net))
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