soho-china-targets-up-to-165-billion

Soho China targets up to $1.65 billion

A greater number of secondary shares and rising property stock valuations lift the total deal size well above expectations.
When commercial property developer Soho China kicks off the institutional roadshow for its Hong Kong initial public offering today, it does so with a much larger deal than previously indicated. Having initially flagged an offering of about $1 billion, the company could now end up raising almost double that, assuming a top-end pricing and a fully exercised greenshoe.

Even without the greenshoe, the deal could reach HK$12.87 billion $1.65 billion and surpass Sino-Ocean Land HoldingsÆ up to $1.5 billion offering, which is also currently in the market.

Including the 15% greenshoe, Soho ChinaÆs deal could swell to $1.9 billion. One reason for the larger deal is a continued strong share price performance by Hong...
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