BUZZ-Sunac China drops most in 3 months on liquidation petition

Reuters

Jan 10, 2025

** Sunac China slides as much as 29.7% to HK$1.23, set for biggest one-day pct decline since Oct. 8, 2024

** Stock hits lowest since Sept. 26, 2024; top pct loser on index tracking properties and construction stocks , which slips 0.8%

** Liquidation petition was filed against indebted property developer by a unit of asset manager China Cinda Asset Management

** Hearing scheduled for March 19

** Earlier this week, sources close to co said property developer unlikely to meet September bond maturity deadline, which is part of its restructuring process

** Stock set to for fifth straight week of losses

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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