Soho drops New York listing

The property company drops ambition to be first listed Chinese property company in New York.

High profile, trendy Beijing property company, Soho has this week decided to hold an analysts meeting to discuss the potential of launching its IPO, which was first mooted in November. However, the company now plans to list only in Hong Kong, having dropped its grand ambition to be the first Chinese property company to list in New York.

It is thought the decision to drop a US listing has been taken, in part, because of added complications created for foreign issuers as a result of the new Sarbanes-Oxley Act that emerge after the Enron scandal.

However, there is also a pragmatic realization by co-CEOs and founders, Pan Shiyi and Zhang...

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