The property management unit of Chinese property developer China Vanke known as Onewo, plans to raise HKD 6.2bn ($784mn) via a Hong Kong IPO. As per an exchange filing, the company will offer 116.7mn share (10% shares), at HKD 47.1-52.7 ($6-6.7) per share. Onewo has already got six investors including China Chengtong Holdings Group and Temasek Holdings who will buy shares worth $280mn at the mid-price. Onewo operates residential property services, commercial and urban space integrated services, remote space-tech solutions, artificial intelligence and is also into business process outsourcing. Vanke holds about 63% pre-IPO in the company. Onewo expects to price the shares on Thursday with a listing on September 29. The news comes as an update earlier this month where Onewo gained approval for the above IPO.
Vanke’s USD 3.975% 2027s were down 0.53 points to 84.94 cents on the dollar, yielding 7.57%.