yanlord-returns-to-market-seven-months-after-the-ipo

Yanlord returns to market seven months after the IPO

The Mainland developer hopes to raise more than twice the IPO proceeds from a combined sale of new shares and convertibles.
China-based property developer Yanlord Land Group is back in the market seven months after its Singapore IPO and this time it has its sights set on quite a bit more money.

An immediate sign of this is that CLSA and HL Bank, which arranged the initial public offering, have been replaced by Goldman Sachs, which will act as sole bookrunner, and Morgan Stanley, which has taken on the role as lead manager.

The company is looking to raise a combined S$650 million $430 million from the fully marketed sale of new shares and convertible bonds, or more than twice the S$283.6 million it raised in connection with the June listing.

The timing of the IPO...
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