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.
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(China.org.cn September 11, 2007)