Evergrande Property Services (6666 HK): Signs Of Life In Liquidators’ Auction
On the 11th September 2025, Evergrande Property Services (6666 HK) (EPS) announced that the liquidators for Evergrande (3333 HK) had been fielding non-binding Offers for Evergrande’s 51.016% stake in EPS.
Final proposals were expected to be submitted by November. Then (pretty much) crickets. FWIW, Evergrande was delisted from the HKEx on the 25th August 2025.
Yesterday, the same day Evergrande founder Hui Ka-yan plead guilty to fraud, EPS announced Evergrande has entered into a 30 day exclusivity period with a mystery buyer.
The Trade:
I wouldn’t chase it. Metrics are fair with respect to peers.
There is no shortage of choices in this space.
EPS is up 108% since Evergrande entered liquidation versus 5% for peers.
This insight is still labelled bullish as I’m not bearish here. Challenging to gauge what a possible MGO price may be.
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