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China Developer Sets Biggest Hong Kong IPO Since September

  • Longfor Intelligent gets approval for $1 billion listing
  • IPO may gauge confidence in China’s property industry
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A unit of Chinese developer Longfor Group Holdings Ltd. got the green light for the largest Hong Kong listing in seven months in what would be a measure of investor confidence in the troubled sector. 

The property management subsidiary Longfor Intelligent Living Ltd. has won approval for an initial public offering that may raise around $1 billion, according to people familiar with the matter. At that size, it would the largest IPO in the financial hub since Dongguan Rural Commercial Bank Co.’s $1.2 billion deal in September.