Evergrande Property said to expect binding offers by this month
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Liquidators of China Evergrande Group are set to receive binding offers for its Hong Kong-listed property management unit by the end of this month. Private equity firms, including Trustar Capital, and a Guangdong-based state-owned buyer are considering bids, although offers are expected to be below the current share price. Evergrande Property Services, crucial for creditor asset recovery, has a market valuation of HK$13.8 billion despite a 93% drop in share price since 2021. The company reported a net income of US$144 million in 2024, managing 3,000 projects across China amid Evergrande's financial collapse.
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