Shimao Services launches $1.3bn Hong Kong IPO

By Jonathan Breen
20 Oct 2020

Shimao Services has joined the stream of Chinese property managers listing in Hong Kong this year, kicking off bookbuilding for its up to HK$10.1bn ($1.3bn) IPO.

The property management company is being spun off by Shimao Group, one of China’s largest real estate developers.

Listing sponsors CICC and Morgan Stanley are leading the deal, alongside Goldman Sachs and HSBC.

After a week of pre-marketing the IPO, the syndicate began taking orders from international investors ...

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