Regional developer takes on tough IPO market
Central China Real Estate is being offered at a 35%-51% discount to NAV. The company is banking on its leading position in Henan province and its high-profile strategic investor to attract buyers.
Central China Real Estate has kicked off the institutional roadshow for what could become the first successful Hong Kong listing of a Chinese property company in more than six months. The company will be stressing its position as the leading residential developer in Henan, which is ChinaÆs most populous province and a laggard in terms of both urbanisation and property prices, as the key argument for why investors should include it in their portfolios.
Another positive should be the fact...
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