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    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
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    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

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