Swire gives property IPOs new momentum
Chinese property developers came under renewed scrutiny from IPO investors this week even as Hong Kong’s Swire Pacific confirmed that it is considering plans to spin-off its property arm for up to HK$40bn ($5.2bn) which may become the largest initial public offering from the sector yet. The potential deal came as China’s Longfor prepared to price a HK7.1bn ($915m) listing, Evergrande Real Estate rose in its first days of trading, and Mingfa Group dusted off its offer plans.
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