[photopress:shunde.jpg,full,alignright]Country Garden Holdings, a property developer based in Guangdong, is seeking to raise as much as RMB3 billion ($385 million) from an initial public share sale on the Hong Kong Stock Exchange in the early part of next year.
It is reported that Country Garden is hoping to raise funds that will provide the company with fresh capital in order to help the company increase its land bank.
Country Garden specializes in developing holiday homes on the Mainland for the well-off residents of Hong Kong. It trades under the brand Bi Gui Yuan, which is relatively well-known in China.
The company has so far completed more than 10 projects totaling more than 10,000 sq m in Guangdong cities such as Shunde (shown in the illustration), Guangzhou, and Nanhai.
In addition to building high-end homes and apartments, the company also develops large-scale community facilities such as schools, hotels, hospitals, and theme parks.
So far, no schedule has been set for the company’s proposed initial share sale. However, the company is hoping that its well-known Bi Gui Yuan brand will be able to attract investors. Country Garden will also be targeting the upper-income investors in order to maximize its profit margin.
Source: China Knowledge