China Evergrande says property services unit seeks to raise up to $2 billion in IPO

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In this photo illustration taken on 24 Sept. 2020, the Evergrande Group logo is seen displayed on a smartphone. The Evergrande Group or the Evergrande Real Estate Group (previously Hengda Group) is China's second-largest property developer by sales. Sheldon Cooper | SOPA Images | LightRocket via Getty Images China Evergrande Group said on Monday its property management unit is seeking to raise up to HK$15.8 billion ($2.04 billion) in an initial public offering (IPO), a plan likely to help improve cash flow at the debt-laden property developer. Market concern has mounted in recent weeks that Evergrande whose borrowings totaled 835.5...