china-central-properties-completes-aim-listing

China Central Properties completes AIM listing

The Shui On-backed company will use the $500 million raised from its IPO and a concurrent CB to buy more distressed and partially completed properties.
June 10, 2007
China Central Properties CCP has become the first Chinese investment company focusing on distressed and partially completed properties to list on LondonÆs Alternative Investment Market AIM after completing its ú151 million $300 million initial public offering at the end of last week.

The fixed-price offering, which is sponsored by Hong Kong-listed Shui On Construction and Materials SOCAM, attracted more than 50 investors aside from a group of hedge funds and investment banks which had made an earlier commitment to buying ú101 million worth of the shares. More than 70% of the demand for the remaining ú50 million came from long-only funds, a source close to the deal says.

Excluding the cornerstone investors, 60% of...
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