Thid undated file photo shows an advertisement for China Vanke Co Ltd in the Shenzhen Metro. (PHOTO / XINHUA)
HONG KONG – Developer China Vanke Co Ltd's property services arm Onewo Inc is set to raise HK$5.75 billion (US$733 million) after pricing its shares at HK$49.35 each in its Hong Kong Special Administrative Region IPO, according to two sources with direct knowledge of the matter.
The sources could not be named as the information was not yet made public. Onewo declined to comment.
Onewo, which is a unit of the Chinese mainland's second largest developer by sales, sold 116.74 million shares in the deal. The shares represent 10 percent of Onewo's share capital
Onewo, which is a unit of the Chinese mainland's second largest developer by sales, sold 116.74 million shares in the deal. The shares represent 10 percent of Onewo's share capital.
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At HK$49.35, the price is at the middle of the HK$47.1 to HK$52.7 apiece range set when the deal was launched on Monday.
Vanke owns 62.9 percent of Onewo and is its biggest customer, regulatory filings showed.
Onewo is one of the largest Hong Kong IPO's in 2022 so far. The largest, mainland electric vehicle maker Leapmotor Technology, is due to price shares on Friday as it attempts to raise US$1 billion.