Market awaits glut of China property IPO's

Two privately-owned Chinese property companies activate their listings as a third sits waiting in the wings.

The roughly $200 million flotation of SOHO China has been launched, with the analysts meeting convened last Friday and an SEC filing believed to be imminent. If successful, the Goldman Sachs led offering will break new ground for China, as the transaction represents the country's first private sector listing on the New York Stock Exchange NYSE.

The company will also list on the Hong Kong Stock Exchange and may yet leapfrog the roughly $100 million IPO of Shanghai Forte, whose analysts meeting was held three weeks ago. The HSBC led offering should start pre-marketing in about a week, although observers were reporting yesterday Wednesday that it might be delayed by a few weeks. HSBC...

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