Hong Kong Stock Moves: Evergrande Property Services Surges Early Session as Sales Process Resumes with Due Diligence Approaching

Stock News
07/29

EVERG SERVICES (06666) shares climbed nearly 8% in early Hong Kong trading, up 6.67% to HK$0.96 as of press time, with turnover reaching HK$18.36 million.

On July 27, the company announced that its liquidators have officially restarted the sales process. The statement noted that after a previous potential buyer decided not to proceed with the transaction, the liquidators have continued discussions with several potential buyers, including both newly added parties and those who had previously participated in the process. The next step involves inviting potential buyers to conduct due diligence on the group.

According to market rumors, the list of previous potential buyers included well-known private equity firms such as PAG and Trustar Capital. In a related development, on July 28, Finnet (09978) announced a cash offer. In that transaction, PAG acted as an "advisor and facilitator," with one of its funds receiving 77 million warrants at an exercise price of HK$0.50, further fueling market speculation about PAG's potential acquisition of Evergrande Property Services.

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