Fantasia kicks off yet another property IPO

The Sichuan-focused developer looks to tap the market for up to $413 million with six cornerstone investors already signed up.

Fantasia Holdings Group yesterday launched the roadshow for a Hong Kong initial public offering that could raise as much as HK$3.2 billion $413 million. This is the second property developer with a focus on western China to hit the market in recent weeks.

The company is offering 1.45 billion shares with an indicative price between HK$1.75 and HK$2.20 each. A 15% greenshoe, if exercised, could increase the maximum possible deal size to $475.9 million.

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