Beijing-based property developer Sunshine 100 is planning an IPO in Hong Kong to raise as much as US$300 million, according to a prospectus of the company.
The company will offer 500 million shares at HK$4 to US$4.8 apiece.
The company says it will use the proceeds to buy new projects or land in China with a focus on business complexes and residential communities.
Warburg Pincus invested US$45 million in Sunshine 100, which will be diluted to 5.17% stake after the IPO is completed.
Founded in 1999, Sunshine 100 has developed property projects in 17 second- and third-tier cities including Beijing, Tianjin, Chongqing and Changsha in China.
China International Capital Corporation and Citibank are serving as the joint sponsors for the IPO.