sinoocean-ipo-balloons-to-13-billion

Sino-Ocean IPO balloons to $1.3 billion

The developer attracts the attention of 10 cornerstone investors amid hopes of rapid economic growth in the Pan-Bohai Rim.
When Sino-Ocean Land Holdings kicks off the roadshow for its initial public offering today it will be the first of three Chinese developers expected to go public in Hong Kong in the coming month.

It will also be the largest of the three and with a size of between $1.3 billion and $1.5 billion, the biggest IPO in Hong Kong since investment holding company Fosun InternationalÆs $1.48 billion IPO in early July.

The initial plan was to do a deal of only about half the current size, but a combination of the companyÆs growing land bank and rising valuations at other property developers, has seen the size grow increasingly bigger over the past few months....
¬ Haymarket Media Limited. All rights reserved.

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