Shares in developer Sunac China Holdings have risen as trading resumed following the company’s offer for fellow developer Kaisa Group Holdings.
Sunac will offer HK$1.80 per Kaisa share, a 13% premium on the last traded price, and will also extend an offer to holders of options and convertible bonds issued by Kaisa.
The acquisition will give Sunac access to markets in the south of China, such as Shenzhen where Kaisa is based. A deal is dependent on Kaisa getting debt waivers, among other requirements.
