Evergrande submitted a listing application to the Hong Kong Stock Exchange. Can it be listed successfully?

On September 25th, 2020, Evergrande announced that the listing plan of Evergrande's spin-off property management business had been approved by the Hong Kong Stock Exchange. On September 29th, Evergrande Real Estate Group Co., Ltd. submitted its listing application to the Hong Kong Stock Exchange. Not surprisingly, Evergrande Real Estate successfully went public. Evergrande Real Estate, a subsidiary of Evergrande Group, has been developing well, but on September 24th, it was rumored that Evergrande Group begged the government to support major capital restructuring projects. After this rumor came out, the share prices of China Evergrande and Evergrande Automobile were seriously affected. China Evergrande's share price fell by about 5%, and Evergrande Automobile's share price fell by about 8%.

In response to rumors, Evergrande Group issued a statement that night that the reorganization of Evergrande Group was a rumor, and the documents and screenshots were deliberately fabricated by others. The company has reported the case to the police and will take legal weapons to protect itself. On the 25th, Evergrande announced that its property management business was approved for listing, which also made Evergrande's share price gradually return to blood. After submitting the listing application, Evergrande is valued at 1 1 billion USD, which looks promising.

Evergrande Group was established on June 24th, 1996, and successfully listed in 2009, with a total market value of HK$ 70.5 billion. We have reached cooperation with Khyron Real Estate, Guanghui Group and other companies, and have our own projects in Shanghai, Shenzhen and other cities. Evergrande Group has developed into a fortune 500 enterprise in the world, and its business scope is also very extensive, including real estate, decoration design, air conditioning, gardens and so on.

Personally, I am very optimistic about Evergrande Group, which has always paid attention to product quality and service quality. It is a rare conscience company in the industry and has a good prospect in real estate and property management. In the next few years, Evergrande Group will spin off more businesses and go public to expand its market competitiveness.