Evergrande Service Unit to Seek Approval for $2 Billion Hong Kong IPO
Property management arm aims for approval as soon as next week
Developer is facing pressure to pare back its debt pile
Evergrande Property Services Group Ltd. is planning to seek listing approval as soon as next week for its Hong Kong initial public offering, which could raise at least $2 billion, according to people familiar with the matter.
The property management arm of China Evergrande Group could even raise as much as $3 billion depending on market conditions, said one of the people, who asked not to be identified as the information is private.