Aoyuan sets challenge with attractive valuation

The Guangdong-based real estate developer is seeking to raise up to $467 million and has set a challenge for other larger IPO candidates with its attractive valuation.

It may not be as big as the other two property plays currently seeking a listing in Hong Kong, but with an attractive valuation China Aoyuan Property Group is putting up a worthy fight for investorsÆ attention. The Guangdong-based residential real estate developer, whose Chinese name means Olympic Gardens, kicks off its institutional roadshow today with the aim of raising up to HK$3.64 billion $467 million.

According to sources, Aoyuan will be offering its shares at a sizeable...

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