Property News · November 22, 2020

China Evergrande’s property management arm launching US$2 billion IPO as developer seeks to pare massive debt


Evergrande Property Services, a unit of mainland China’s largest and most indebted developer China Evergrande Group, is looking to raise up to HK$15.8 billion (US$2.04 billion) from an initial public offering in Hong Kong next week, a move that will allow its parent to pare back its massive debt.The mainland property management services provider is offering 1.62 billion shares at an indicative price range of HK$8.5 and HK$9.75, equally splitting them between existing and newly issued shares, it…

Source : South China Morning Post
Read more…China Evergrande’s property management arm launching US billion IPO as developer seeks to pare massive debt

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