Financial News
Written by: Zhang Weilun
2020-11-18 08:50
Last update date: 2020-11-18 08:50
Sunac Services (1516), a spin-off from Sunac China (1918), announced the results of the allotment. The first lottery rate was 30%, and 15,000 shares or 15 lots were subscribed to secure one lot.
Sunac Services is finally priced at 11.6 yuan, and the net fund raised is expected to be 7.86 billion yuan; if the over-allotment right can be exercised and 103 million shares are issued, it is expected to raise an additional 1.183 billion yuan.
The company pointed out that of the funds obtained from the fund-raising, 5.108 billion yuan was used to seek strategic investment and acquisition opportunities related to the main business of property management and/or community operations, 1.179 billion yuan was used to upgrade the intelligent management service system, and 786 million yuan was used for expansion Community value-added services, the remaining approximately 786 million yuan is used for working capital and general corporate purposes.
The company also pointed out that in the public offering, it recorded 9.42 times over-subscription.
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