Sunac China Holdings Limited (SEHK:1918) agreed to spin-off an unknown minority stake in Sunac Services Holdings Limited on August 6, 2020. Sunac Services Holdings proposes to spin-off and separately list the shares of Sunac Services on the Main Board of the Stock Exchange by way of the global offering and the distribution of a minor portion of the Sunac Services shares to the shareholders of Sunac China Holdings Limited. Sunac China Holdings holds 100% stake in Sunac Services. It is intended that upon completion of the spin-off and the listing, Sunac China Holdings will have an interest of not less than 50% in Sunac Services and Sunac Services will remain as a subsidiary of Sunac China Holdings. On August 6, 2020, Sunac Services submitted a listing application to the Stock Exchange to apply for the listing of, and permission to deal in, the Sunac Services' shares on the Main Board of the Stock Exchange. The Stock Exchange has confirmed that Sunac Services may proceed with the spin-off. The basis for the distribution is adjusted from 1 Sunac Services Holdings Limited share for about every 31.07 shares held by a shareholder of Sunac China Holdings Limited to 1 Sunac Services Holdings Limited share for every 31.08 shares held by a shareholder of Sunac China Holdings Limited. As of November 9, 2020, it is expected that the dealings in the Sunac Services will commence on November 19, 2020.

Sunac China Holdings Limited (SEHK:1918) completed the spin-off an unknown minority stake in Sunac Services Holdings Limited on November 19, 2020. Doris Ng and Harold Tin of Norton Rose Fulbright acted as legal advisors to HSBC Corporate Finance (Hong Kong) Limited and Morgan Stanley Asia Limited as joint sponsors to the spin-off.