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    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

(3333)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-03-18 am EDT
1.650 HKD   +8.55%
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Tender to sell Evergrande's Hong Kong headquarters to close on Oct 31

09/25/2022 | 10:42pm EST
Evergrande Center in Shanghai

HONG KONG (Reuters) - A tender sale of China Evergrande Group's headquarters in Hong Kong will close on Oct. 31, real estate services firm Savills said, appointed by receivers to dispose of the asset.

Lenders of struggling Evergrande appointed receiver Alvarez and Marsal earlier this month to seize the China Evergrande Center in Hong Kong, a Companies Registry filing showed, as the world's most indebted developer struggles to emerge from its debt crisis.

Savills said in a statement on Sunday the sale of the 27-storey office tower in the Wan Chai district will include existing tenancies.

Saddled with more than $300 billion in liabilities, Evergrande has been trying to sell the headquarters since the second half of last year as part of the asset disposal effort to raise funds but did not see any success.

Reuters reported in July, citing sources, that Evergrande was looking to sell the tower via a tendering process but the offers were too low at below HK$10 billion ($1.27 billion), compared to its purchase price of $12.5 billion in 2015.

Evergrande declined to comment.

(Reporting by Clare Jim; Editing by Christian Schmollinger)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP 8.55% 1.65 Delayed Quote.3.77%
SAVILLS PLC -1.37% 939 Delayed Quote.-32.39%
All news about CHINA EVERGRANDE GROUP
07:44aEvergrande’s Electric Vehicle Arm Halts Mass Production on Lack of Orders
MT
07:42aChina Evergrande expects to hit 2022 property delivery target
RE
12/01Analysis-Chinese developers' offshore creditors eye bargains; cautious on demand
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11/29Chinese developers rush to raise funds as Beijing lifts equity sales ban
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11/29Evergrande's Winding-Up Hearing Adjourned; Targets Creditor Support for Restructuring b..
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11/29China Evergrande Sells Commercial Land in Shenzhen for $1 Billion
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11/28Evergrande to sell Shenzhen commercial plot for $1.05 billion amid debt woes
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11/28China Evergrande unit to sell Shenzhen commercial plot for $1.05 billion
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11/28Evergrande aims to win approval for restructuring proposals early next year
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11/27Evergrande aims to win approval for restructuring proposals early next year
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More news
Analyst Recommendations on CHINA EVERGRANDE GROUP
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Financials
Sales 2021 474 B 60 742 M 60 742 M
Net income 2021 12 038 M 1 543 M 1 543 M
Net Debt 2021 485 B 62 136 M 62 136 M
P/E ratio 2021 1,82x
Yield 2021 7,06%
Capitalization 21 787 M 2 792 M 2 792 M
EV / Sales 2021 1,07x
EV / Sales 2022 1,03x
Nbr of Employees 163 119
Free-Float 29,5%
Chart CHINA EVERGRANDE GROUP
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China Evergrande Group Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 4
Last Close Price 1,65 HKD
Average target price 2,10 HKD
Spread / Average Target 27,4%
EPS Revisions
Managers and Directors
Shawn Siu Chief Executive Officer & Executive Director
Cheng Qian Chief Financial Officer, Executive Director & VP
Ka Yan Hui Chairman
Shing Yim Chau Independent Non-Executive Director
Qi He Independent Non-Executive Director
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