China Evergrande to raise $2b in pre-IPO for property, car marketplace unit

China Evergrande to raise $2b in pre-IPO for property, car marketplace unit

Reuters

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 fundraising ahead of the unit’s initial public offering (IPO).