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2021-07-20

That’s concerning

China Evergrande Weighing Hong Kong IPO for Bottled Water Unit

China Evergrande Groupis considering an initial public offering in Hong Kong for its bottled water b

China Evergrande Weighing Hong Kong IPO for Bottled Water Unit

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A potential IPO could raise several hundred million dollars and take place next year, the people said.</p>\n<p>Shenzhen-based Evergrande has been selling equity in non-property assets and accelerating property sales to reduce leverage, yet it is struggling to restore confidence among investors. China Evergrande Group owns a 49% stake in Evergrande Spring, according to its 2020annual report.</p>\n<p>Shares and dollar bonds of Evergrande slumped Monday after a courtorderedthe freezing of a bank deposit held by its onshore division. Evergrande said in response that it will sue the lender, according to a statement. Later on Monday, Shaoyang city in Hunan provincehaltedsales at two of Evergrande’s residential projects, according to another statement.</p>\n<p>Deliberations are at an early stage and Evergrande could decide to keep the business, the people said. A representative for Evergrande didn’t immediately respond to queries by email and phone.</p>\n<p>Evergrande Spring offers over 50 products in the mineral water, grocery, dairy and fresh food segments, according to the parent company’swebsite. Its products are available in more than 30 provinces and cities across China, as well as over 10 countries and regions participating in the country’s Belt and Road Initiative. Evergrande Spring has established partnerships with over 1,000 distributors and more than 500,000 sale outlets across China, according to the annual report.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Evergrande Weighing Hong Kong IPO for Bottled Water Unit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina Evergrande Weighing Hong Kong IPO for Bottled Water Unit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 11:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-19/evergrande-is-said-to-weigh-hong-kong-ipo-for-bottled-water-unit><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China Evergrande Groupis considering an initial public offering in Hong Kong for its bottled water business, people with knowledge of the matter said, as the country’s most indebted real estate ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-19/evergrande-is-said-to-weigh-hong-kong-ipo-for-bottled-water-unit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03333":"中国恒大"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-19/evergrande-is-said-to-weigh-hong-kong-ipo-for-bottled-water-unit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102833436","content_text":"China Evergrande Groupis considering an initial public offering in Hong Kong for its bottled water business, people with knowledge of the matter said, as the country’s most indebted real estate developer seeks new sources of funding.\nThe company is holding exploratory discussions with investment banks on a separate listing for Evergrande Spring, said the people, asking not to be identified as the information is private. A potential IPO could raise several hundred million dollars and take place next year, the people said.\nShenzhen-based Evergrande has been selling equity in non-property assets and accelerating property sales to reduce leverage, yet it is struggling to restore confidence among investors. China Evergrande Group owns a 49% stake in Evergrande Spring, according to its 2020annual report.\nShares and dollar bonds of Evergrande slumped Monday after a courtorderedthe freezing of a bank deposit held by its onshore division. Evergrande said in response that it will sue the lender, according to a statement. Later on Monday, Shaoyang city in Hunan provincehaltedsales at two of Evergrande’s residential projects, according to another statement.\nDeliberations are at an early stage and Evergrande could decide to keep the business, the people said. A representative for Evergrande didn’t immediately respond to queries by email and phone.\nEvergrande Spring offers over 50 products in the mineral water, grocery, dairy and fresh food segments, according to the parent company’swebsite. Its products are available in more than 30 provinces and cities across China, as well as over 10 countries and regions participating in the country’s Belt and Road Initiative. 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