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China Evergrande ended back-door listing for its property development unit in Shenzhen

Last updated on November 10, 2020

China Evergrande Group, China's largest and most indebted property developer, has ended a plan to engineer a back-door listing for its property development unit in Shenzhen, ending a costly four-year pursuit of one of its biggest rivals in the city.

The developer, helmed by the country’s third-richest tycoon, Hui Ka-yan, has resolved to terminate the reorganisation plan with Shenzhen Special Economic Zone Real Estate & Properties Group (Shenzhen Real Estate), it . . .

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