Bonds and shares of Chinese property developers fell on Friday, with little signs as to how local regulators plan to contain the contagion from cash-strapped China Evergrande Group, which faces roughly $150 million in offshore payment commitments next week.

Evergrande, which is dealing with more than $300 billion in debt and is facing one of the country's worst defaults, missed coupon payments on dollar notes twice last month.

According to a person familiar with the situation, some of Evergrande's offshore bondholders will convene a conference call on Friday evening Asia time to explore possibilities after the business missed payments totaling $131 million last month.

"At this point, the call is basically to get a group of bond holders together so they can negotiate better," said the person, who declined to be named because he was not authorised to speak to the media.

"Everyone's trying to get any information available, so they can start planning their next move."

A major newswire first reported that some dollar bondholders were invited by advisers to a call on Friday 0630 EST (1030 GMT) to discuss strategy.

Citi has retained legal firm Mayer Brown as counsel for Evergrande dollar-bond trustee, according to a separate source familiar with the situation who declined to be named owing to the delicacy of the matter. Citi and Mayer Brown did not respond to requests for comment.