PRC Property developer raises US$336 million in HK IPO

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    Tianjin-based property developer Sunac China Holdings' global offering and initial public offering (IPO) on the Hong Kong Stock Exchange has raisedHK$2.6…

    Tianjin-based property developer Sunac China Holdings' global offering and initial public offering (IPO) on the Hong Kong Stock Exchange has raisedHK$2.6 billion (US$336 million). The joint bookrunners, global coordinators and lead managers of this transaction were Deutsche Bank and Goldman Sachs. The sole sponsor was Deutsche Bank, Hong Kong Branch.

    Sunac's business focuses on developing large-scale, medium to high-end property in the Bohai Rim, South Jiangsu and Chengdu-Chongqing regions of china. Currently, it is operating in Tianjin, Beijing, Chongqing, Wuxi and Suzhou.

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