The Guangzhou Evergrande football stadium under construction on September 17, 2021. Photo: AFP
The Guangzhou Evergrande football stadium under construction on September 17, 2021. Photo: AFP

Guangzhou R&F sells assets to Country Garden for 10 billion yuan cash, ditching unit’s IPO plan as funding crunch bites

  • R&F Property Services, a Hong Kong IPO candidate, has agreed to sell its mainland business backing its planned stock sale plan
  • Controlled by the same shareholders of developer Guangzhou R&F, move shows troubled developers are selling assets to help a sibling company survive

Topic |   Mergers & Acquisitions
The Guangzhou Evergrande football stadium under construction on September 17, 2021. Photo: AFP
The Guangzhou Evergrande football stadium under construction on September 17, 2021. Photo: AFP
READ FULL ARTICLE