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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Evergrande Group    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

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China Evergrande : Seeks to Raise Up to $1.09 Billion to Pay Down Debt

10/13/2020 | 06:17am EST

By Ben Otto

China Evergrande Group is seeking to raise up to 8.43 billion Hong Kong dollars (US$1.09 billion) in a private placement, part of efforts to pare a heavy debt load.

China's most-indebted property developer plans to sell shares at HK$16.50-HK$17.20 apiece, according to a term sheet seen by The Wall Street Journal. The offer range represents a discount of 11.1%-14.7% from the stock's last-traded price.

If the Shenzhen-based company exercises an upsize option, the offering could raise as much as $1.35 billion, the term sheet showed.

China Evergrande intends to use proceeds from the placement to repay existing debt and fund working capital.

China Evergrande is Asia's largest junk-bond issuer and last year was China's largest developer by contracted sales. As of June, it carried outstanding debt totaling CNY835.5 billion (US$123.85 billion), with almost half of it scheduled to mature within a year, according to the company's interim report.

Write to Ben Otto at ben.otto@wsj.com

(END) Dow Jones Newswires

10-13-20 0616ET

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Financials
Sales 2020 647 B 83 469 M 83 469 M
Net income 2020 33 544 M 4 327 M 4 327 M
Net Debt 2020 619 B 79 800 M 79 800 M
P/E ratio 2020 6,36x
Yield 2020 6,78%
Capitalization 214 B 27 598 M 27 600 M
EV / Sales 2020 1,29x
EV / Sales 2021 0,89x
Nbr of Employees 131 615
Free-Float 14,9%
Chart CHINA EVERGRANDE GROUP
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China Evergrande Group Technical Analysis Chart | MarketScreener
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Technical analysis trends CHINA EVERGRANDE GROUP
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 20,16 HKD
Last Close Price 16,58 HKD
Spread / Highest target 92,3%
Spread / Average Target 21,6%
Spread / Lowest Target -8,41%
EPS Revisions
Managers
NameTitle
Hai Jun Xia Vice Chairman & Chief Executive Officer
Shou Ming Shi President
Ka Yan Hui Chairman
Da Rong Pan Chief Financial Officer & Executive Director
Dong Feng Chen Head-Information
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