Property developer Mingfa Group International yesterday started a roadshow for an initial public offering that could raise as much as HK$3.41 billion $440 million. The deal adds to a crowded IPO market that is already full of property companies looking to go public. And more are yet to come Fantasia Holdings Group is another developer that could launch a roadshow in the next few days.
Mingfa's base deal consists of 900 million primary shares. If the 15% greenshoe is exercised, a further 135 million shares will be injected into the deal, bringing the maximum deal size to $506 million.
An indicative price range has been set at between $3.03 and $3.79 per share,...
¬ Haymarket Media Limited. All rights reserved.
