Golden Wheel attracts strong demand for Hong Kong IPO

The small-cap Chinese property developer raises $98 million with ease amid a pickup in risk appetite, sending a positive signal for other issuers in the pipeline.

Chinese property developer Golden Wheel Tiandi Holdings has raised HK$756 million ($98 million) from the first initial public offering of size in Asia this year. Encouragingly, the deal attracted good interest both from institutional and retail investors, suggesting that the appetite for new listings may be returning.

¬ Haymarket Media Limited. All rights reserved.

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