E-House China seals $591m HK listing at low end

China skyscrapers Chongqing_Fotolia_230px
By John Loh
17 Jul 2018

E-House China Enterprise Holdings has priced its Hong Kong IPO at the bottom of expectations, raising HK$4.6bn ($591m) at a single-digit valuation.

The Chinese real estate services provider sold 322.8m primary shares, or 22% of its enlarged capital base, at the low end of a marketing range of HK$14.38 to HK$17.68 per share.

The final price puts a 2019 price-to-earnings multiple of 7.5 times on E-House. The book was well subscribed ...

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