GIC backs Poly Property in HK$4.7bn IPO

By Jonathan Breen
09 Dec 2019

Poly Property Development has launched a roadshow for its Hong Kong IPO, with Singapore's sovereign wealth fund GIC throwing its weight behind the company.

The issuer's Shanghai-listed parent, Poly Developments and Holdings, is spinning off its subsidiary in the listing, which could value the unit at HK$18.7bn ($2.39bn).

Joints sponsors ABC International, GF Capital and Huatai Financial Holdings, began taking orders on Monday, leading a 12-strong syndicate.The mainland-based property manager is offering ...

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