China Vanke’s Property Management Arm Plans Up to $783.6 Million IPO

Onewo Inc., a Chinese property manager majority-owned by developer China Vanke plans to raise up to $783.6 million in its Hong Kong initial public offering, testing a difficult market for new listings against the backdrop of turmoil in China’s real-estate market.

The company expects to offer the shares for anywhere from 47.10 Hong Kong dollars—equivalent to $6—to HK$52.70, according to a filing to Hong Kong’s stock exchange on Monday. That gives Onewo a valuation of $7 billion to $7.84 billion, Vanke said.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *