Hong Kong IPO brings in $1.28 billion for Glorious Property Holdings

09/28/2009 | Wall Street Journal, The

After pricing close to the bottom of its announced range, Shanghai-based developer Glorious Property Holdings raised $1.28 billion in its Hong Kong IPO, The Wall Street Journal said, quoting people familiar with the deal. The transaction marks the first successful IPO for a Chinese real estate company in more than 15 months. Goldman Sachs Group and private equity investor D.E. Shaw & Co. are among the firm's backers.

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