On December 19, 2019 Poly Property Development Co., Ltd (6049.HK) was listed on the Main Board of the Hong Kong Stock Exchange, which marked as the largest Hong Kong IPO in property management sector in history.
Huatai Financial was the Joint Sponsor, Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager for the deal. This was the fourth Hong Kong IPO deal in property management sector sponsored by Huatai Financial within the past two years. As for now, top three largest Hong Kong IPO deals in property management sector were all sponsored by Huatai Financial, affirming Huatai’s absolute leading position in Hong Kong property management sector IPO market.
Poly Property Development issued approximately 133.33 million shares worldwide at an issue price of HK$35.1 per share, raising a total amount of HK$4.68 billion, approximately US$600 million (before the exercise of the over-allotment option).
Poly Property Development is a leading comprehensive property management service provider in China with extensive property management scale and state-owned background, ranking fourth by China Index Academy in 2019 among the Top 100 Property Management Companies in China in terms of overall strength.