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HONG KONG (Reuters) – China Evergrande Group has disbanded several Fangchebao (FCB) district-level units in its online real estate and automobile market due to declining capital and business, Cailianshe Chinese media reported on Wednesday, citing sources close to it. conflicting developer.
FCB planned to launch an initial public offering (IPO) later this year or early next year. Evergrand sold 10% of the company in March to 17 investors for $ 2.1 billion, with pre-financing of more than 150 billion yuan ($ 23.48 billion).
Evergrand did not immediately respond to a request for comment.
The world’s most indebted real estate developer, with more than $ 300 billion in liabilities, has been looking for funds to pay off many of its lenders and contractors.
He hoped to throw money at businesses including FCB and bottled water.
($ 1 = 6.3880 renminbi)
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