(Yicai Global) Dec. 9 -- China's Poly Property Development Co. has announced its global Oofering plan to fund up to HKD4.68 billion (USD600 million) on the Hong Kong Stock Exchange.

Poly Property will offer shares on December 9 to 12, at a price of HKD30.7 (USD3.92) to HKD35.1 per share. It plans to issue approximately 133 million shares, 17.333 million available in Hong Kong and 116 million internationally, with a 15 percent 'greenshoe' over-allotment option.

The capital thus raised will be used to acquire or invest in property management companies, to upgrade digital and intelligent management systems and as working capital.

Poly Property is expected to start trading on the HKSE at 9.00 a.m. on Dec. 19, becoming the 18th mainland property company to list in the special administrative region.

Editor: Ben Armour