Deals
China Evergrande’s $20 Billion Online Arm Considering U.S. IPO
- Portal for real estate and auto sales raising a pre-IPO round
- FCB Group U.S. offering could come as soon as fourth quarter
A pedestrian walks past the China Evergrande Centre in Hong Kong.
Photographer: Chan Long Hei/BloombergThis article is for subscribers only.
China Evergrande Group’s online home and car sales platform FCB Group is weighing an initial public offering in the U.S. as soon as the fourth quarter, according to people familiar with the matter.
FCB Group is working with advisers including Bank of America Corp. and CLSA Ltd. on its U.S. offering plan, the people said, asking not to be identified as the matter is private. The portal, currently valued at about 130 billion yuan ($20 billion), has separately reached out to prospective investors for a pre-IPO funding round, the people said.