Tag Archives: China Property

Evergrande to raise US$769m in IPO

Posted on 20 Oct 2009 | Comments Off on Evergrande to raise US$769m in IPO

Chinese property developer Evergrande Real Estate Group Limited plans to raise up to US$769 million in a Hong Kong initial public offering (IPO), according to a term sheet obtained by Reuters yesterday.

The Guangzhou-based property developer, which focuses on residential properties, is selling 1.5 billion shares, including 900 million new shares and 611 million secondary shares, at a price range indicated between HK$3 and HK$4 per share, according to the term sheet.

The developer is expected to price its shares on or around Oct 28, with trading expected to begin on Nov 5. Evergrande tried to raise US$2.1 billion in a flotation in March last year but cancelled the deal due to lack of interest. BofA-Merrill Lynch, Goldman Sachs, Credit Suisse and BOC International are handling the deal.

More Chinese property IPOs are on the way, with Yuzhou Properties, Fantasia, Longfor Properties, SCE Property and Sunac China also preparing listings.

Source : Business Times – 20 Oct 2009

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Opportunities for more S’pore firms in Tianjin Eco-city projects

Posted on 19 Oct 2009 | Comments Off on Opportunities for more S’pore firms in Tianjin Eco-city projects

More Singapore companies, including small and medium enterprises (SMEs), may soon have opportunities to be involved in projects in the

Sino-Singapore Tianjin Eco-city in China.

Senior Minister of State for National Development, Grace Fu, was replying to a question by Dr Ong Seh Hong in Parliament on Monday.

Ms Fu said the ministry has been working with IE Singapore and the Building and Construction Authority to organise awareness seminars and business missions to the eco-city.

To date, Ms Fu said the joint venture company undertaking the development of the project, which is led by Keppel Corp, has signed several agreements with Singapore companies to be involved in projects in the eco-city. Continue reading →

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