VenkatOnewo Inc., a property-management arm of China Vanke Co. is planning to raise as much 6.15 billion Hong Kong dollars (US$783.5 million) through an initial public offering in Hong Kong. China Vanke, which holds 63% stake in Onewo, had approved a spinoff of the service arm in November last year. The company expects to finalize the IPO price on Sept. 22 and aims to begin trading on the Hong Kong stock exchange from Sept. 29, it said. Onewo offers community services such as home sales, rental brokerage, home decoration and furnishing services for property owners and residents. Venkat at venkat.pr@wsj.com(END) Dow Jones NewswiresSeptember 18, 2022 20:03 ET (00:03 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.

Source: Wall Street Journal September 19, 2022 00:12 UTC