ASIA-PACIFIC

摘要

Property developer sunshine 100 china raised HK$2bn (US$258m) from its Hong Kong IPO after pricing it at the bottom of the indicative price range. The 500m shares made available were sold at HK$4.00 each, off a marketed range of HK$4.00-$4.80, according to people familiar with the situation. The price set represented a discount of 69% to its 2014 estimated NAV. BNP Paribas, CICC and Citigroup were joint global co-ordinators on the IPO. They were also joint bookrunners with ABC International, CIMB, Essence International and Haitong International. Of the proceeds, 60% will be for acquisitions of new projects or land for development in China, while the rest will go towards financing of existing projects and replenishment of working capital.