Chinese property developers and their Wall Street backers are rushing to raise billions of dollars in initial public offerings, rescuing real-estate investments that just months ago were considered victims of the economic crisis.
Shanghai-based Glorious Property Holdings is scheduled to seek listing approval in a hearing before the Hong Kong stock exchange's listing committee Thursday, according to people familiar with the situation. If all goes smoothly, Glorious, whose backers include private-equity firm DE. Shaw & Co. and Goldman Sachs Group Inc, could start premarketing Monday to raise as much as $1.5bn this month
Wall Street Journal