yuzhou-properties-sets-ipo-price-at-bottom-of-range

Yuzhou Properties sets IPO price at bottom of range

The Fujian-based residential developer raises $209 million after attracting modest demand in a busy market. Undeterred, Longfor starts investor education for yet another property IPO.

Yuzhou Properties, a residential developer based in Fujian province, has fixed the price of its initial public offering at the bottom of the range, according to a source, capping the deal size at HK$1.62 billion $209 million. The outcome isn't that surprising given that it is the smallest of the four property developers that have been going head to head in the Hong Kong market over the past week. When investors make a decision about which IPOs they have time to research, the smaller ones are always in danger of losing out.

Incidentally, there have been rumours in the market that the second smallest, Mingfa Group International, will also be forced...

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