another-chinese-property-developer-tests-demand-for-upcoming-ipo

Another Chinese property developer tests demand for upcoming IPO

Undeterred by cancellation of Shui On Land's near $1 billion IPO, Greentown hopes to raise up to $400 million.
Greentown China Holdings yesterday became the fourth Chinese property developer in short succession to seek a public listing when it started pre-marketing of a share offer of between $300 million and $400 million.

Just a few weeks ago, the developer was said to be hoping to raise at least $500 million ahead of its planned Hong Kong listing, but the sharp sell-off in global equity markets has led to higher uncertainty and forced issuers to revise down their expectations.

The initial public offering comes after Shui On Land last week shelved its planned listing - one day before the end of bookbuilding - and Yanlord Land Group cut the size of its IPO by almost...
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