Skip to content
Subscriber Only

Evergrande, Unit Seek About $2 Billion in Hong Kong IPO

  • Offering of property services arm to include 1.62b shares
  • Evergrande is facing pressure to pare back its debt pile
Bloomberg business news
China Evergrande Gets $4.6 Billion Lifeline From State Firms
Updated on

China Evergrande Group and its property management arm are seeking to raise as much as HK$15.8 billion ($2.04 billion) in a Hong Kong initial public offering of the unit, Evergrande Property Services Group Ltd. said Sunday.

The sale of 1.62 billion shares comprises 50% new stock and 50% so-called sale shares, with the price range set at HK$8.50 to HK$9.75 apiece. The offering size could be increased as much as 15% to meet demand if an over-allotment option is exercised.