Evergrande is said to be exploring prospects of listing its tourism business after having preliminary talks with advisers on an IPO as per sources reported by Bloomberg. The sources said that the IPO could be launched as soon as next year as considerations are at early stages with no details on the valuation. Earlier this week, the company was also said to be considering whether to list its bottled water business as per Bloomberg in an effort to seek new sources of funding. Separately, regarding the halt in mortgages to Evergrande’s customers by HK banks, the property developer in a statement said that it still has good relationships with many banks in Hong Kong, so its local operations will not be impacted. With this, the developer said that its dispute with Guangfa Bank where the lender froze $20mn of funds has been resolved.
Evergrande’s dollar bonds are slightly higher. Its 13.75% 2023s are up 1.5 to 56.5.