Shares of Sunac China drops after company gets liquidation petition

Reuters

01-10

Shares of Sunac China drops after company gets liquidation petition

HONG KONG, Jan 10 (Reuters) - Shares of Sunac China 1918.HK were set to open 14.9% lower on Friday after a liquidation petition was filed against the indebted property developer.

The stock is set to open at HK$1.49 per share, lowest open since Sept. 26.

The petition has been filed by a unit of asset manager China Cinda Asset Management 1359.HK, and a hearing is scheduled for March 19, the Hong Kong judiciary's website showed late on Thursday.

(Reporting by Hong Kong newsroom; Editing by Himani Sarkar)

((donny.kwok@thomsonreuters.com; +852 3462 7745;))

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