Bank of China to invest in Swire Properties IPO

HONG KONG: Swire Properties, which aims to raise up to US$2.7 billion (RM8.65 billion) from a Hong Kong initial public offering, has tapped Bank of China Group Investment for US$100 million worth of shares, a source close to the deal said on Wednesday, April 28.

Bank of China Group Investment is an investment arm of Bank of China. Its investment in Swire Properties, a property arm of conglomerate Swire Pacific, will be locked up for six months after the IPO, the source said.

Swire Properties has already secured Dutch fund APG Strategic Real Estate Pool as a cornerstone investor for US$200 million worth of shares, according to its preliminary prospectus.
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