News Snapshot:
By P.R. Venkat A unit of China Evergrande Group has submitted a draft initial public offering prospectus for a listing in Hong Kong, the latest Chinese firm to tap the hot equities-fund raising market. Evergrande Property Services Group has appointed UBS, Huatai International among banks to advise on the offering, a draft prospectus filed with the Hong Kong Exchange late Sunday showed. The prospectus didn't disclose the amount of money nor the timing of the offering. Evergrande Property Services intends to use to proceeds from the offering towards acquisitions and expansion of business. Separately, Evergrande said that its unit will...
