Sunac China plans to make an offer for all of Kaisa, having already agreed to buy a 49.3% stake in the troubled group from former chairman Kwok Ying Shin and his family members.
The developer, which last week looked set to buy the stake for HK$4.55 billion $587 million, will make an offer for all of the shares at HK$1.80 per share, the companies said in a joint announcement on Friday.
Sunac’s move comes as Kaisa appeared to have made a coupon payment just ahead of a February 8 deadline, after missing the original payment date of January 8. This should further ease pressure on the group.
The...
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