Longfor Properties was able to live up to expectations that its initial public offering would be able to attract significant investor interest despite a much higher valuation than the recent market newcomers in the same sector, proving that investors are still willing to pay up when they see something they like.
In this case, they were primarily banking on Longfor's continued transformation from a regional developer into a fully-fledged national player with strong bases in Chengdu and Beijing. The company's immediate plans include the expansion into high-growth areas such as the Pan Bohai Rim and the Yangtze River Delta.
According to sources, the developer, whose projects include a wide range of mid- to high-end residential...
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