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Property is flavour of the month in Hong KongÆs IPO market

Four Chinese real estate companies start pre-marketing, undeterred by the struggles faced by three recent property IPOs.

A wave of initial public offerings from Chinese property firms is set to hit Hong Kong over the coming weeks. With at least four Chinese property developers currently at the pre-marketing stage, one might think that the three most recent listings in the sector had sailed through. In reality, though, the IPOs for China South City Holdings, Glorious Property Holdings, and Powerlong Real Estate Holdings were all plagued either by a lack of investor demand or by poor secondary market performance.

One of the main issues facing the next lot of developers is differentiation not only will it be necessary for them to show that they are distinct from their sector peers trying...

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