Tian Ge, Beijing Urban IPOs gather pace

Chinese groups look to tap Hong Kong market, with both relying on friends and family having locked in cornerstone investors.

Tian Ge Interactive Holdings and Beijing Urban Construction Design Development Group join a host of other Chinese companies seeking to list in Hong Kong before June-end, with institutional books opening for both deals this week.

Tian Ge Interactive Holdings, a social video platform operator partially owned by Sina Corp, aims to raise up to $208 million by selling up to 304.3 million shares at between HK$4.50 and HK$5.30 per unit. The shares represent 25% of the enlarged share capital, valuing the company at $832 million.

An exercised greenshoe option could tack on an additional 45.6 million shares, all of which are primary. UBS and CICC...

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