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China Vanke Prepares for $2 Billion Property Management IPO

  • Vanke is working with adviser; in talks with other banks
  • An offering could take place as soon as end of this year
1497598418_Vanke Construction
Photographer: Keith Bedford/Bloomberg
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China Vanke Co., the country’s largest developer by market value, is working with an adviser to prepare for a listing of its property management business in Hong Kong that could raise about $2 billion, according to people with knowledge of the matter.

The Shenzhen-based company is holding talks with several other banks for the offering, which could take place as soon as the end of this year, the people said. The use of technology in its real estate management could help boost the unit’s valuation, the people said, asking not to be identified as the information is private.