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


Source: scmp.com scmp.com

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Evergrande Property Services’ IPO could raise as much as HK$18.17 billion if overallotment option is exercised Evergrande, China’s largest and most indebted developer, has total debt amounting to US$122.4 billion Evergrande Property Services’ IPO could raise as much as HK$18.17 billion from the IPO as mainland China’s biggest developer seeks to cut US$122.4 billion 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...