Temasek, GIC invest in China's Longfor IPO-source

HONG KONG, Oct 28 (Reuters) - Beijing-based property company Longfor Properties Co Ltd, which aims to raise up to $1 billion from its Hong Kong public offering, has seized five cornerstone investors for a combined $300 million worth of shares, a source close to the deal said on Wednesday.

The cornerstone investors include the Government of Singapore Investment Corp [GIC.UL], Temasek [TEM.UL], Hong Kong Land and China's Ping An Insurance 2318.HK, the source said.

The source has direct knowledge of the deal but was not authorised to speak publicly about the deal.

The company aims to raise between $800 million and $1 billion to finance and acquire property projects.

Longfor is expected to kick off its marketing roadshow on Nov. 2 and to price its shares on Nov. 11, with trading expected to begin on Nov. 19.

Citigroup C.N, Morgan Stanley MS.N and UBS AG UBSN.VX are the bookrunners.

(Editing by Michael Flahery and David Holmes)


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