Second time lucky for Evergrande Real Estate

The deal is priced at the mid-point for a total size of $726 million, as other property IPOs run into obstacles.

Against a difficult backdrop of pulled and delayed deals, Evergrande Real Estate yesterday successfully completed its initial public offering, raising HK$5.65 billion $726.2 million a year-and-a-half after its first attempt to go public. The company is due to start trading on November 5.

The deal priced at HK$3.50 a share, the middle of a price range that stretched from HK$3 to HK$4. A total of 1.61 billion shares were sold, split into 1...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition