China's Franshion Properties launches roadshow

The Sinochem subsidiary aims to raise $424 million via an IPO in Hong Kong to fund further real estate projects and proposed acquisitions.

Chinese real estate developer and investor, Franshion Properties China, has launched a roadshow for its Hong Kong initial public offering this week, in an attempt to raise up to HK$3.3 billion $424 million primarily for project development and acquisitions.

Franshion is offering 1.41 billion new shares, or 30% of the enlarged share capital, at a price ranging from HK$1.85 to HK$2.35. It has a typical structure, with 90% of the deal sold to institutional investors and...

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