Mainland property developer Agile Group (3383) is eyeing spinning off its construction arm Agile City to list in the Hong Kong stock market this year to raise up to US$500 million (HK$3.9 billion). Agile appointed HSBC and JP Morgan to lead a planned Hong Kong initial public offering, local media reported. The developer is aiming to raise between US$300 million to US$500 million, although the IPO time table and size might change due to the Covid-19 outbreak. Agile Group separated listing its wealth management arm A-Living Services (3319) in Hong Kong two years ago. Meanwhile, Chinese cancer drug maker InnoCare Pharma expects to launch its Hong Kong IPO on March 11 to raise about US$250 million to US$300 million.

Source: The Standard March 03, 2020 19:07 UTC