China Evergrande Group on Monday said it would sell 10 percent of its online real estate and auto market Fangchebao (FCB) to 17 investors for HK $ 16.35 billion ($ 2.10 billion) in pre-financing. Initial Unit Offering (IPO).FCB, which has a pre-valuation of more than 150 billion yuan ($ 22.92 billion), could be listed on the Nasdaq or other appropriate exchanges, Evergrande said in the filing.The country's most indebted developer said it would split several units to cut debt amid tighter industry regulations and investor concerns about cash flow.
Interest-bearing debt was estimated at $ 110 billion at the end of the year.The ดาวน์โหลด สล็อต xo company listed Evergrande Property Services Group Ltd in December, raising $ 1.8 billion. In January, China Evergrande New Energy Vehicle Group Ltd said it would raise $ 3.4 billion, bringing in six new investors.China Evergrande Group's share price soared as much as 8.5 percent in morning trading to HK $ 16.08.Evergrande said the FCB deal would see half the money raised through the sale of its existing shares and the other half by issuing new shares.
Developers will spend half of the money on regular corporate offers.The 17 investors consist of CITIC Capital and the family of the President of New World Development Co Ltd, as well as Evergrande's chief executive, Xia Haijun.Investors can request to buy back Evergrande shares at a special 15 percent price if FCB does not complete its IPO within a year, Evergrande said.The group's financial strength will be greatly improved and promote the rapid development of FCB," said Evergrande.The developer is scheduled to announce the 2020 results on Tuesday.
