Volatile market prompts Yanlord to reduce IPO size

Upscale mainland residential developer now aims to sell 20% of company to raise about $270 million.

Chinese property developer Yanlord Land Group has decided to sell only 20% of the company in its ongoing initial public offering due to the choppy market environment. This will reduce the deal size to about S$451.4 million $270 million.

The company, which is seeking a listing in Singapore, had initially planned to raise about $350 million by selling 25% of its issued share capital.

According to investors, the number of new shares on offer has been cut accordingly to...

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