SZITIC Commercial Property Co Ltd, which sold a stake in two of its malls to U.S. private equity firm Carlyle Group LP in May, plans an up to $1 billion Hong Kong IPO as soon as the fourth quarter of 2013, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
The Shenzhen-based shopping mall developer hired JPMorgan and China International Capital Corp (CICC) to handle the initial public offering, the paper said.
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The deal could come by the end of the year or in the first quarter of 2014, it added.
SZITIC sold a 49 percent stake in the malls, located in second-tier cities of Hangzhou and Suzhou, to Carlyle for an undisclosed sum.
(Reporting by Elzio Barreto; Editing by Chris Gallagher)