Investment Updates News
- Guangdong News
Date: 31-Jan-2007 Sources: (Shenzhen Daily)
MERRILL Lynch & Co., Deutsche Bank AG and Singapore's Temasek Holdings invested US$400 million for an 8 percent stake in Guangzhou-based property developer Hengda Real Estate Group, the Shanghai Securities News newspaper reported yesterday.
Hengda Real Estate may attract another US$500 million from overseas investors before its planned overseas initial public offering, the report said, without citing sources. It didn't say where the listing would take place. HSBC Holdings, Citigroup Inc. and UBS AG are also in talks with Hengda Real Estate over a possible strategic investment, the paper said.
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