for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Deals - Asia

China Evergrande aims to list property management unit in HK this year

FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. Picture taken March 26, 2018. REUTERS/Bobby Yip

HONG KONG (Reuters) - China's major property developer Evergrande 3333.HK said on Monday it aims to complete the listing of its property management unit in Hong Kong this year.

CEO Xia Haijun told an earnings conference that the company is also looking to spin off other units.

The developer said last month it sold 28% of a property management unit for HK$23.5 billion ($3 billion), bringing in strategic investors ahead of a possible IPO for the unit. [nL4N2FG0VB]

The company reported on Monday a core profit of 19.3 billion yuan ($2.82 billion) in the first six months, compared with 30.4 billion yuan a year ago.

($1 = 6.8484 Chinese yuan renminbi)

Reporting by Clare Jim; Editing by Louise Heavens

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up