Canton Property Investment, which has ambitions of becoming a major commercial property developer in mainland China, has become the latest in a long line of foreign real estate companies to list in London. Having raised $50 mln (EUR 37 mln) in its initial share placing, the company said it was valued at $368 mln (EUR 275 mln) when it began trading on the junior Alternative Investment Market (AIM) on Thursday. The Hong-Kong company plans to build shopping centres in China. Chief executive Charlie Lin said: 'We are offering AIM investors the chance to benefit both from mainland China’s commercial property boom and from its consumer spending boom.'
Canton Property Investment, which has ambitions of becoming a major commercial property developer in mainland China, has become the latest in a long line of foreign real estate companies to list in London. Having raised $50 mln (EUR 37 mln) in its initial share placing, the company said it was valued at $368 mln (EUR 275 mln) when it began trading on the junior Alternative Investment Market (AIM) on Thursday. The Hong-Kong company plans to build shopping centres in China. Chief executive Charlie Lin said: 'We are offering AIM investors the chance to benefit both from mainland China’s commercial property boom and from its consumer spending boom.'
Several Chinese vehicles are among the group of about 50 foreign real estate companies that have listed in London in the last two years, according to a report in the Financial Times.