China South City plans $300-$500 mln HK IPO-sources
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HONG KONG, June 5 (Reuters) - Chinese integrated logistics and trade centre operator China South City Holdings Ltd aims to raise $300-$500 million from a Hong Kong initial public offering in the third quarter this year, sources close to the deal said on Thursday.
The company develops and manages China South International Industrial Materials City in Pinghu, which is located in Shenzhen, a boomtown near Hong Kong.
The Shenzhen-based firm has filed an application to the Hong Kong Stock Exchange for a flotation but the final size will depend on the market situation, the sources said.
Hong Kong-listed Tak Sing Alliance Holdings Ltd (0126.HK: Quote, Profile, Research) has a 20 percent stake in China South City.
China South City has appointed Merrill Lynch MER.N as the sponsor of its deal.
(US$1=HK$7.8)
(Reporting by Kennix Chim; editing by Anne Marie Roantree)
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