Twitter LinkedIn
    Wednesday, May 25
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»IPO»China Evergrande to raise $2 billion in pre-IPO for property, car marketplace unit
    IPO

    China Evergrande to raise $2 billion in pre-IPO for property, car marketplace unit

    March 29, 20211 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    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

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Investments IPO IPOs
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Borouge’s $2 Billion Abu Dhabi IPO Draws in Asia’s Richest Man

    May 24, 2022

    Investcorp to invest $400 mn Indian schooling infra

    May 24, 2022

    KKR Leads $200+ Million Growth Investment in Enterprise Identity Protection Leader Semperis

    May 24, 2022

    Vista Equity Partners Among the First Major U.S. Private Equity Firms to Advance Global ESG Strategy with Portfolio-Wide Participation in Climate Program

    May 23, 2022

    Comments are closed.

    Other Articles

    PE-backed payment giant Klarna has tripled its valuation to $31 billion

    March 3, 2021

    Rockpoint Group and BEB Capital Announce $1 Billion Industrial-Focused Joint Venture

    January 5, 2022

    CPPIB joins Bain Private Equity and Bain Credit to acquire stake in IIFL Wealth

    April 27, 2022

    Platinum Equity Advisors walks away from Marston’s after £690m bid falls flat

    February 11, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2022 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?