On July 15, Ganglong China Property Group Limited (SEHK: 6968) initiated its IPO in Hong Kong by issuing 400 million shares at $3.6-4.1 per share. Vice mayor Jiang Feng attended the bell ringing ceremony held remotely in Changzhou.
Ganglong was founded in Changzhou, Jiangsu province in 2007 and relocated its headquarters to Shanghai last year. It ranked 83rd among the mainland developers by contracted gross floor area sold in 2019. The company's project portfolio covers 53 projects in 21 cities with a land reserve of 5.44 million square meters as of March 31, with over 70 percent in Jiangsu province. Ganglong is mainly focusing on second-tier and third-tier cities in the Yangtze River Delta Region with access to High-Speed Rail stations.
So far, there have been 65 listed companies in Changzhou.
This time, Ganglong also signed an agreement with Zhonglou district to invest 1 billion yuan in urban industries.
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