News Snapshot:
Following a successful Hong Kong initial public offering, Evergrande shares are expected to be listed on December 2. Evergrande Property Services Group, part of China’s second-biggest property developer, has raised $1.8 billion in a Hong Kong initial public offering (IPO). According to news outlet Reuters, Evergrande Property has anticipated to raise up to $2.04 billion, but significantly affected by the heavy debt-laden. Apparently, Evergrande Property borrowings totaled 835.5 billion yuan ($123.93 billion) at the end of June. With the slow market recovery process due to the coronavirus pandemic, the company had a tough time convincing investors to purchase its shares...
