Evergrande considers Hong Kong float

SHANGHAI: Property developer Evergrande Real Estate Group is planning to get listed on the Hong Kong capital market with an initial public offering that could raise as much as HK$11.7 billion.

The Guangzhou-based developer is said to have submitted its listing proposal to the Hong Kong bourse. Evergrande owns the largest land reserves among China's realty developers, with market capitalization in excess of HK$100 billion, analysts said.

Country Garden Holdings Co Ltd, a Guangdong-based property developer controlled by billionaire Yang Huiyan, had earlier raised HK$12.9 billion.