Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


Chinese line up for HK listings

HONG KONG, Aug 3 –  Several Chinese developers are planning to raise billions of dollars by listing on the Hong Kong bourse to take advantage of a strong rebound in the housing market, a report said Monday.

The plans come as the southern Chinese city\’s Hang Seng Index has registered massive gains over the past few months, while a resurgent real estate sector on the mainland has boosted hopes of a recovery soon.

Evergrande Real Estate of Guangzhou hoped to raise a billion US dollars in an initial public offering (IPO) in Hong Kong by the end of the year after aborting in March 2008 due to a property market crash, the South China Morning Post said.

It added that Evergrande had recently taken potential investors on tours of its building sites in central and southern China.

Glorious Property Holdings, which owns land along the upscale Bund in Shanghai, also aims to raise a billion US dollars, investment bankers familiar with the plan told the newspaper.

And Shenzhen\’s Fantasia Group was set to launch a 500 million-dollar share sale for its mid-to-high-end development projects in the Pearl River Delta, according to the paper.

The three developers were among a dozen in the pipeline to list in Hong Kong, the Post said.

House prices in 70 large and medium-sized Chinese cities were up 0.8 percent in June from May, rising for the fourth straight month, according to the National Bureau of Statistics.

Real estate investment nationwide rose by 9.9 percent in the first half of this year, compared with the same period last year, the statistics showed.

Advertisement. Scroll to continue reading.

But the rebound was sounding alarms amid reports that Chinese authorities will tighten lending policies to cool growth and avoid a bubble in the property market.

A commentary from the state-run Xinhua news agency last week said the recent boom defied the sensible picture and accused low-level governments of artificially pushing up property prices.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...


NAIROBI, Kenya, Mar 16 – The World Bank has given the Kenyan government USD 60 Million (Sh6.1 billion) to help combat the deadly coronavirus pandemic...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...


NAIROBI, Kenya, Mar 25 Kenyans who will fail to pay their dues by April 1 will not be listed in the Credit Reference Bureau...


NAIROBI, Kenya, Mar 13 – Meet Kennedy Okaka, the CEO of PH Africa which manufacturers and distributes hand sanitizers. Okaka speaks to Capital Business...