Goldman Sachs has been mandated to list the first private sector company from China on the New York Stock Exchange. The company in question is called Soho, and is part of a property company called Beijing Redstone Industries.
Depending on market conditions the deal - which will be dual-listed in New York and Hong Kong - is slated to raise $300 million. It is projected to roadshow and list in June. One challenge for the lead manager and investors will be to figure out how to benchmark and value the company, which is fairly unique.
Soho has five residential properties in Beijing, the first of which sold out in three months. The average price...
