Chinese real estate developer Zhongliang seeks $453m in HK IPO

The flag of Hong Kong Exchanges & Clearing Ltd. (HKEx), top center, the Chinese national flag, bottom center, and the Hong Kong SAR flag, bottom right, fly in the Central district of Hong Kong, China, on Wednesday, March 2, 2016. Photographer: Justin Chin/Bloomberg

Shanghai-based real estate developer Zhongliang Holdings Group is raising up to HK$3.54 billion ($453 million) by selling 530 million shares in an initial public offering (IPO) in Hong Kong, according to its prospectus.

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