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China Vanke’s Unit Seeks Up to $784 Million in Hong Kong IPO

  • Onewo’s offering draws Temasek among cornerstone investors
  • Shenzhen-based company is slated to start trading Sept. 29
Updated on

Onewo Inc., the property management unit of real estate developer China Vanke Co., is planning to raise as much as about HK$6.2 billion ($784 million) through a Hong Kong initial public offering.

The firm is offering about 116.7 million shares at HK$47.1 to HK$52.7 each, according to an exchange filing. The share sale attracted six cornerstone investors who have agreed to purchase around $280 million worth of stocks, based on mid-point of the price range. China Chengtong Holdings Group Co. and Singapore’s Temasek Holdings Pte are among the cornerstone investors.