Ming Yuan Cloud to close HK$6bn IPO early

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By Jonathan Breen
16 Sep 2020

Ming Yuan Cloud Holdings is set to wrap up bookbuilding for its up to HK$6.2bn ($796.7m) Hong Kong IPO on Thursday, following a flood of demand from global investors, according to two sources close to the deal.

The issuer is a software company that provides solutions to Chinese real estate developers and other participants in the country’s property sector. Ming Yuan Cloud, which leads its peers with a 24.6% market share in terms of contract value, has attracted heavyweight investors with its niche business.

“A ...

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