Longfor Properties will kick off the roadshow today for an initial public offering that is seeking to raise between HK$6.06 billion and HK$7.1 billion $782 million to $916 million. Coming on the heels of several other property IPOs that have failed to attract much interest from investors, the launch may seem somewhat brave and the company is also upping the ante by ignoring the fact that other listing candidates have been forced to come at increasingly lower valuations and is offering its shares at a much more expensive price.
Analysts and bankers involved in the deal are arguing that Longfor deserves a higher valuation than the other Chinese property companies that...
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