Evergrande drops A-share backdoor Listing

摘要

China evergrande group has formally terminated its plans for a backdoor listing in the A-share market through Shenzhen special economic zone real estate & properties (group), after a fruitless four-year wait for regulatory approval. Having confirmed that the A-share float will not proceed, Evergrande, China's most indebted property developer, is now pushing ahead with the listing of some of its other assets. Its property management services unit evergrande property services won listing approval from the Stock Exchange of Hong Kong on Thursday for its IPO of about US$2bn, people familiar with the situation said.