Liquid Real Estate Issue 07
Liquid Real Estate Awards: Best global investment bank
Morgan Stanley shines in subdued Chinese market
An example of Morgan Stanley’s ability to shine in an increasingly difficult market is the Central China Real Estate IPO, which raised HK$1.37 billion ($176 million) in a Hong Kong listing in May. It remains the only Hong Kong real estate IPO to price in 2008.
Two other real estate flotations, for Guangzhou-based developers, had already been pulled in Hong Kong earlier in the year, for Evergrande Real Estate and Changsheng China Property. Central China’s success in getting away was even welcomed by rivals, delighted to see a sign of confidence in the markets. It went at the bottom of its pricing range,...
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