China Evergrande Group on Monday said it will sell 10% of its online real estate and automobile marketplace, Fangchebao (FCB), to 17 investors for HK$16.35 billion ($2.10 billion), in a fundraising ahead of the unit’s initial public offering (IPO).
FCB, with a pre-financing valuation of over 150 billion yuan ($22.92 billion), could list on the Nasdaq or other suitable stock exchange, Evergrande said in a bourse filing.
The firm 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 by bringing in six new investors.
China Evergrande Group’s share price soared as much as 8.5% in morning trade to HK$16.08.
Read more at Reuters
