Greentown launches IPO amid Brexit fallout

Property management form linked to Greentown China defies market volatility to push forward its listing plan.
Photo credit: China Daily
Photo credit: China Daily

Property services provider Greentown Service Group pressed ahead with plans to raise HK$1.7 billion $221 million through an initial public offering in Hong Kong on Tuesday, confident that it could sail through the extreme volatility caused by Britain's decision to leave the European Union.

One Hong Kong-based equity capital markets banker told FinanceAsia that markets have been much less volatile than expected so far this week, providing much needed comfort for issuers looking to launch deals before quarter-end.

Pricing of the Greentown Service IPO is slated for July 4 and trading is set for July 12.

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