In the past month China’s leading football club has signed up one of the world’s best-known managers and a $15m Brazilian international midfielder.
But Guangzhou Evergrande’s latest high-profile transfer is of a financial variety as it looks to become the first Asian football club to list on the stock market.
Evergrande, the Chinese property company that co-owns the team with ecommerce group Alibaba, said yesterday that it had applied to list the shares on China’s over-the-counter exchange for small companies.
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