The property developer said last month it was considering a spin-off and separate listing for the unit, which is called Mangrove 3 Ltd. The introduction of strategic investors will enhance the corporate profile of the business and support its growth, it said in a filing late on Thursday.
Fourteen investors bought into the deal, including Chan Hoi Wan, also a major shareholder in Chinese Estates Holdings Ltd, who purchased 5.4 per cent and Huatai International which bought 4.8 per cent. Sequoia Capital, CITIC Capital and Tencent Holdings also invested, Evergrande said.
The property management unit had a profit of 922.5 million yuan ($133 million) in 2019, nearly four times higher than a year earlier.
Reuters