According to sources, after previous attempts failed, the liquidator of China Evergrande Group has hired bankers to sell one of its property management departments.

Bloomberg reported on Wednesday (August 13th) citing sources that the liquidator appointed by the Hong Kong court is working with UBS Group and CITIC Securities to find potential buyers for Evergrande Property Group Limited. The negotiations are still in the preliminary stage and may undergo some changes.

China Evergrande announced on Tuesday (12th) that its stocks listed in Hong Kong will be delisted.

On the same day, the liquidator of Evergrande stated that creditors are particularly concerned about the handling of assets related to Evergrande Property. They added that the company's market value of HKD 9 billion (SGD 1.5 billion) and revenue of RMB 12.8 billion (SGD 2.3 billion) from last year "represent significant potential sources of value".

Since January 2024, Edward Middleton and Tiffany Wong from Anmai Consulting have been appointed by the Hong Kong court as the underwriters of Evergrande Securities. They have been searching through documents, uncovering complex company structures, and assisting creditors in recovering funds.

According to Evergrande's annual report, the net revenue for 2024 is 1 billion yuan; The company also has 3000 projects.

However, any sale faces numerous obstacles. The stock price of Evergrande has plummeted by about 96% from its peak in 2021 and has been a "miracle stock" for many years.

After the liquidation order of the Hong Kong court, the stock of China Evergrande Group is expected to be delisted on August 25th.

Liquidators Du Aidi and Huang Yongshi announced on Tuesday that they have received 187 proof of debt forms, with a total debt burden of approximately 45 billion US dollars (57.7 billion Singapore dollars). This Chinese real estate company is currently facing difficulties in achieving a comprehensive restructuring.

They stated that they currently control over 100 companies related to Evergrande, with a total asset value of approximately HKD 27 billion.

The liquidator stated that the realized amount so far is limited, only $255 million. About 167 million US dollars have been returned to Evergrande. However, due to the complex ownership structure, stakeholders should not assume that all of this funding will belong to Evergrande.

According to sources, after previous attempts failed, the liquidator of China Evergrande Group has hired bankers to sell one of its property management departments.

Bloomberg reported on Wednesday (August 13th) citing sources that the liquidator appointed by the Hong Kong court is working with UBS Group and CITIC Securities to find potential buyers for Evergrande Property Group Limited. The negotiations are still in the preliminary stage and may undergo some changes.

China Evergrande announced on Tuesday (12th) that its stocks listed in Hong Kong will be delisted.

On the same day, the liquidator of Evergrande stated that creditors are particularly concerned about the handling of assets related to Evergrande Property. They added that the company's market value of HKD 9 billion (SGD 1.5 billion) and revenue of RMB 12.8 billion (SGD 2.3 billion) from last year "represent significant potential sources of value".

Since January 2024, Edward Middleton and Tiffany Wong from Anmai Consulting have been appointed by the Hong Kong court as the underwriters of Evergrande Securities. They have been searching through documents, uncovering complex company structures, and assisting creditors in recovering funds.

According to Evergrande's annual report, the net revenue for 2024 is 1 billion yuan; The company also has 3000 projects.

However, any sale faces numerous obstacles. The stock price of Evergrande has plummeted by about 96% from its peak in 2021 and has been a "miracle stock" for many years.

After the liquidation order of the Hong Kong court, the stock of China Evergrande Group is expected to be delisted on August 25th.

Liquidators Du Aidi and Huang Yongshi announced on Tuesday that they have received 187 proof of debt forms, with a total debt burden of approximately 45 billion US dollars (57.7 billion Singapore dollars). This Chinese real estate company is currently facing difficulties in achieving a comprehensive restructuring.

They stated that they currently control over 100 companies related to Evergrande, with a total asset value of approximately HKD 27 billion.

The liquidator stated that the realized amount so far is limited, only $255 million. About 167 million US dollars have been returned to Evergrande. However, due to the complex ownership structure, stakeholders should not assume that all of this funding will belong to Evergrande.