KWG Properties to raise up to $582 million from IPO

The Guangzhou-based developer will set aside about 25% of the offering for four cornerstone investors, including fellow property company Guangzhou R&F.

Mid-sized Chinese real estate developer KWG Properties has set the indicative price range for its initial public offering at a level that could see it raise up to HK$4.55 billion $582 million.

According to sources, the company will offer 25% of its enlarged share capital, or 625 million new shares, at a price between HK$5.90 and HK$7.28 per share. The institutional roadshow will kick off today and the Hong Kong retail offering will follow on June...

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