Streetbeat News

EVGPF

Evergrande Property Services Group Limited

Open

0.07

Mkt cap

Volume

5.3K

High

0.10

P/E Ratio

4.75

52-wk high

0.10

Low

0.07

Div yield

N/A

52-wk low

0.05

Evergrande Group (OTC: EGRNF) is in urgent talks with major foreign creditors to avoid the liquidation of its offshore businesses. The company is offering creditors about 20% ownership in its parent company to comply with Chinese regulatory demands, which include no new debt issuance. Discussions with Dubai-based NWTN about investing in Evergrande's EV division are ongoing, following a paused $500 million investment for a 28% stake in Evergrande Auto. The company's default in late 2021 has been a focal point in China's real estate crisis.

Portfolio Pulse from Vandana Singh

December 01, 2023 | 5:25 pm

China's real estate company, Evergrande Property Services Group Ltd (OTC:EVGPF), has filed for Chapter 15 in the U.S., marking a strategic offshore debt restructuring phase. This move is seen as a calculated maneuver given Evergrande's substantial U.S. dollar obligations governed by New York laws. The company's struggles reflect deeper issues within China's economic landscape, particularly in the property sector, and could have expansive ramifications on global markets.

Portfolio Pulse from AJ Fabino

August 18, 2023 | 6:11 pm

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