China's Franshion Properties launches roadshow
The Sinochem subsidiary aims to raise $424 million via an IPO in Hong Kong to fund further real estate projects and proposed acquisitions.
Chinese real estate developer and investor, Franshion Properties China, has launched a roadshow for its Hong Kong initial public offering this week, in an attempt to raise up to HK$3.3 billion $424 million primarily for project development and acquisitions.
Franshion is offering 1.41 billion new shares, or 30% of the enlarged share capital, at a price ranging from HK$1.85 to HK$2.35. It has a typical structure, with 90% of the deal sold to institutional investors and...
To continue reading, please login or register for free