(Yicai Global) Dec. 8 -- Sunac China Holdings has sold a further 26.7 million American depositary shares in Chinese real estate brokerage KE Holdings for USD530 million to recoup its investment as scheduled, the property developer said today.

The share sale took place on the public market between Oct. 29 and Dec. 7, it said. Since June 1, the Beijing-based company has offloaded 45.4 million shares raising USD1.1 billion. Yet the firm expects to log a pre-tax loss of CNY5.6 billion (USD881.5 million) this year due to the disposal, it said.

The proceeds will be used to supplement general working capital, Sunac said.

Sunac invested CNY2.6 billion (USD409 million) in KE Holdings before the housing transaction and service platform went public last year. Since then, it has earned nearly CNY1.8 billion by selling KE Holdings’ shares.

KE Holdings’ share price [NYSE:BEKE] closed up 1.37 percent at USD19.92 yesterday. The stock has lost nearly 75 percent of its value in the past 12 months.

Editor: Kim Taylor