Longfor prices near top to raise $912 million

The Chinese developer attracts strong interest from both institutions and retail investors, despite an aggressive valuation relative to other recent newcomers in the same sector.

Longfor Properties was able to live up to expectations that its initial public offering would be able to attract significant investor interest despite a much higher valuation than the recent market newcomers in the same sector, proving that investors are still willing to pay up when they see something they like.

In this case, they were primarily banking on Longfor's continued transformation from a regional developer into a fully-fledged national player with strong bases in Chengdu and Beijing. The company's...

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