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Developer R&F suspends application for China listing
October 23, 2017 / 3:08 AM / a month ago

Developer R&F suspends application for China listing

HONG KONG, Oct 23 (Reuters) - Guangzhou R&F Properties Co Ltd said it had suspended its application for a China listing as a representative of one of the joint sponsors had resigned, and that it would reapply when a new representative was appointed.

The Chinese developer announced the decision in a Hong Kong filing on Sunday, after the Chinese securities regulator showed on its website on Friday that R&F had requested to halt review of its plans for Shanghai listing.

Shares of R&F eased 2 percent on Monday morning. Hang Seng Index was down 0.8 percent.

A few Hong Kong-listed Chinese homebuilders, including China Evergrande, have been seeking a China listing as valuations in the mainland are usually higher. Dalian Wanda Commercial Properties has also been eyeing a Shanghai IPO after it delisted from Hong Kong in 2016.

R&F had submitted its application in 2015 to raise about 35 billion yuan ($5.27 billion), after China reopened the IPO window at the time following an almost five month hiatus. But the country has not yet approved any application from real estate firms. (reut.rs/2yGvUbR) ($1 = 6.6359 Chinese yuan renminbi) (Reporting by Clare Jim; Editing by Himani Sarkar)

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