Ailing property firm Sunac China to raise $156m to repay corporate debt

Ailing property firm Sunac China to raise $156m to repay corporate debt

FILE PHOTO: People walk past the logo of property developer Sunac at a residential compound in Beijing, China September 19, 2023. REUTERS/Florence Lo/File Photo

Embattled property developer Sunac China said on Thursday it is seeking to raise HK$1.21 billion ($155.70 million) to repay its existing corporate debt, at a time when China is dealing with a downturn in the property market.