Powerlong Real Estate goes ahead with $632 million IPO

One year after it first tested the markets, Powerlong is back, going toe-to-toe with Glorious Property.

Powerlong Real Estate Holdings yesterday launched an initial public offering that is expected to raise as much as HK$4.9 billion $632 million. The IPO launches over a year after the company initially tested the markets before the financial crisis started last summer.

The base deal is made up of 1 billion shares, of which 850 million are primary shares and the remaining 150 million secondary. The secondary shares are being sold by Hoi Kin Hong, chairman of the...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES