ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

China Evergrande spinoff's market debut falls flat in Hong Kong

Property Services unit drops below offering price after $1.8bn IPO

China Evergrande Group is working to boost its finances and alleviate a liquidity crunch.   © Reuters

HONG KONG -- The market debut of Evergrande Property Services fell flat on Wednesday, underscoring investor nervousness over the health of its parent company, Asia's biggest private-sector debtor.

Shares of the property management unit opened at HK$8.84, up from an issue price of HK$8.80, but then dipped as low as HK$8.54 before closing at HK$8.78. The Hang Seng Index edged 0.1% lower.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more