Sunac China resumes trading after ‘debt restructuring’

The real estate firm said it fulfilled the resumption guidance.

After one year of suspension, Sunac China Holdings Limited announced that it resumed stock trading after completing its requirements and addressing its debt.

In a bourse filing, the real estate property said it fulfilled resumption guidance such as “(i) publishing all outstanding financial results as required by the Listing Rules and addressing any audit modifications and (ii) demonstrate the Company’s compliance with Rule 13.24 of the Listing Rules.”

“As of 31 December 2022, the Group’s audited total assets amounted to approximately RMB1.090b and the Group’s audited revenue for the year ended 31 December 2022 amounted to approximately RMB96.75 billion, as set out in the Company’s audited results announcement dated 31 March 2023 of the Company for the year ended 31 December 2022,” according to the firm.

Suntec said it carries out a business with enough operations and assets of sufficient value to support these operations. 

Further, Suntec reached an agreement with an ad-hoc group of offshore creditors of the company on the proposed offshore debt restructuring and is in the process of implementing the restructuring.