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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