SUNING.COM CO., LTD.

002024
End-of-day quote. End-of-day quote  - 01/25
7.06CNY -3.81%

Suning com : to Buy Back $306 Million Renminbi Bonds; Shares Slide 4%

12/10/2020 | 08:38pm
(MT Newswires) -- Shares of Suning.com (SHE:002024) fell nearly 4% after the company said it will repurchase 2 billion yuan ($305.6 million) worth of renminbi bonds.

The online retail company will fund the buyback of seven tranches of the bonds with cash on hand, it said in a filing Thursday.

Meanwhile, Caixin Global reported that the buyback is part of Suning's strategy to convince investors that it is not too short on cash to repay its debts.

On Tuesday, Suning said in a social media post that rumors that the company is suffering a liquidity crunch were untrue and were damaging to its business and brand, Caixin reported.

Price (RMB): ¥8.68, Change: ¥0.03, Percent Change: +0.35%

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