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China Evergrande’s EV unit scraps IPO plan while CNOOC, Dongfeng Motor unveil new domestic stock offerings | South China Morning Post

Source: scmp.com scmp.com
News Snapshot:

China Evergrande Group hit another bump on the road to ease its liquidity crisis after abandoning a plan to float its car-making unit at home. At the same time, oil explorer CNOOC Limited and Dongfeng Motor unveiled their new listing aims. The indebted developer’s car-making unit, known as Evergrande New Energy Vehicle Group, will no longer proceed with its domestic share offering after “due and careful consideration,” according to an exchange filing late Sunday. The proposed listing on Shanghai’s board for technology companies, known as the Star Market, was first mooted a year ago to fund its ambitions: to take…

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