Evergrande Property Services launches HK$16bn IPO

China_property_Adobe_27July
By Jonathan Breen
23 Nov 2020

China's Evergrande Property Services Group has kicked off its IPO, aiming to raise up to HK$15.8bn ($2bn) with strong support from friends-and-family investors.

The company is the property management arm of Chinese real estate giant Evergrande Group, one of China’s largest but also most debt-laden developers. The parent has been under pressure from creditors and regulators to reduce its debt.

But Evergrande Group’s vast business has set a strong base for ...

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