China's megacity dream spurs Hebei Construction IPO

Privately-held construction firm seeks public capital as China speeds up development of the Beijing-Tianjin-Hebei region, including plans for a vast new city in rural Xiongan.

China's megacity dream spurs Hebei Construction IPO

Hebei Construction Group on Monday launched a Hong Kong initial public offering, becoming the first company to tap investor interest in China’s ambitious Xiongan special zone plan.

The company hopes to raise between HK$1.9 billion and HK$2.3 billion $248 million to $297 million from the deal as its home province of Hebei becomes the focus of another major Chinese development plan.

China’s Xiongan initiative may be little known among international...

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