This comes at a time strategic investors have the right to demand the company pay them US$19 billion in January if it cannot complete a targeted listing in China.
Chinese property developers have been seizing on a market rally to list their service arms and raise money to pare debt. Hong Kong-listed Evergrande needs the exchange's approval for the restructuring. Unlike real estate assets that face government curbs and cyclical downturns, the property management units offer a stable business model with recurring fee revenue and low leverage.
Evergrande raised HK$23.5 billion by selling a 28.1 per cent stake in its property management arm to investors including Tencent Holdings in August.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong: Stocks finish week with another loss[HONG KONG] Hong Kong shares finished a tough week with another loss Friday as traders are spooked by rising virus cases and the imposition of economically painful containment measures in several countries. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Egg tarts and wife biscuits: Hong Kong pastry and snack shops here draw the crowdsSINGAPORE - Day and night, two perennially long queues snake around basement level four of Ion Orchard, at the open space under the escalators.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Commentary: Hong Kong’s future clearly lies with ChinaTim Summers argues that Hong Kong’s future is increasingly integrated with that of China as a whole, but this does not spell the long-prophesied ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Hong Kong: Stocks finish week with another loss[HONG KONG] Hong Kong shares finished a tough week with another loss Friday as traders are spooked by rising virus cases and the imposition of economically painful containment measures in several countries. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Commentary: Hong Kong’s future clearly lies with ChinaTim Summers argues that Hong Kong’s future is increasingly integrated with that of China as a whole, but this does not spell the long-prophesied ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Egg tarts and wife biscuits: Hong Kong pastry and snack shops here draw the crowdsSINGAPORE - Day and night, two perennially long queues snake around basement level four of Ion Orchard, at the open space under the escalators.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »