Powerlong Commercial follows property manager peers with HK IPO
Powerlong Commercial Management Holdings launched the roadshow for its HK$1.5bn ($193m) IPO on Monday. The property management company is being spun off by Powerlong Real Estate Holdings.
The Chinese property manager follows two of its peers, Poly Property Development and Times Neighborhood Holdings, which held IPOs in the city last week.
Property management arms have become a hot ticket for Chinese real estate developers looking for something positive to grasp at as the property market slumps....