country-garden-brings-largest-hk-ipo-by-a-chinese-developer

Country Garden brings largest HK IPO by a Chinese developer

Hong Kong tycoons flock to the Guangdong-based residential developer which stands out because of its quick asset turnover and affordable prices.

Anette Jönsson

March 23, 2007

Guangdong-based real estate developer Country Garden is currently pre-marketing what looks set to become the largest initial public offering in Hong Kong this year. At the talked-about deal size it would be more than three times China Agri-IndustriesÆ $410 million offering that tops the 2007 list so far.

It will also be the largest IPO by a Mainland property company ever, exceeding Shui On LandÆs $877 million deal post-shoe in September last year. Being only the second Chinese real estate company to seek a Hong Kong listing since then, Country Garden will be an interesting test of investor sentiment, coming as it does only days after China raised its benchmark interest rate for the third...

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