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Property developers turn to HK for IPO

Updated: 2012-11-08 07:51
By Wu Yiyao and Wang Ying in Shanghai ( China Daily)

Tight regulation forces on mainland force firms to look elsewhere for capital

Mainland developers raised more than 10 billion yuan ($1.6 billion) in the overseas market in October and at least five of them are seeking to use initial public offerings to raise more than $2 billion and be listed on the Hong Kong Stock Exchange by the end of 2012.

The China Securities Regulatory Commission, as part of the government's effort to cool the overheated property market, has not approved a property developer's plan for a listing on the Chinese mainland's A-share market since 2007.

Property developers turn to HK for IPO