, Hong Kong

China-based property management firm New Hope launches $940m IPO

The IPO is set to debut on the Hong Kong Exchange on 25 May.

Sichuan-based property management firm New Hope Services has launched an initial public offering on the HKEX to raise $940m.

The company is offering 200 million shares at not more than $4.70c per Offer Share and expected to be not less than HK$3.80c per offer share.

New Hope has already attracted six cornerstone investors who agreed to subscribe a combined $383.65m (US$49.4m) worth of shares. Some of the investors are Xiaomi, Fosun International and China-based real estate service provider KE Holdings.

The minimum investment is set at $4,747.36. The company will debut on 25 May.

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