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Zhenro Group seeks US$1B from property manager unit's Hong Kong IPO

Zhenro Properties Group Ltd.'s parent, Zhenro Group Co. Ltd., is looking to raise about US$1 billion from its planned listing in Hong Kong of its property management units, The (Hong Kong) Standard reported.

The Chinese developer intends to float its Zhenro Property Management subsidiary, which provides services for commercial and residential properties in various cities in China, the Sept. 5 report added.