SOHO China, a Beijing-based property developer, is progressing smoothly with its planned listing in the Hong Kong stock market. A hearing was held on September 6, with a public subscription expected by the end of this month. The company anticipates raising up to US$1 billion through its Hong Kong listing, a sharp rise from the 3 billion yuan target (US$398.7 million) revealed in the first half of this year.

 

Last month Peter Woo Kwong Ching, chairman of the Hong Kong-headquartered investment company Wheelock and Company Limited, reportedly promised to subscribe to shares worth US$100 million. Robert Kuok, chairman of the Kerry Group, also promised a subscription of the same amount of shares. Goldman Sachs and HSBC Holdings are sponsors for the company's listing.

 

For more details, please read the full story in Chinese (

http://www.dfdaily.com/node2/node27/node260/userobject1ai27695.shtml

).

 

(China.org.cn September 11, 2007)