Jan. 12, 2007 (China Knowledge) – SOHO China Ltd, a Beijing-based property developer, is looking to revive previous plans to launch its IPO on the Hong Kong Stock Exchange.

With Goldman Sachs and HSBC being hired as arrangers of the company’s IPO, SOHO China is reportedly aiming to raise US$400 million from the IPO by June this year. The capital raised will be used to fund new projects.

In 2002, SOHO China delayed a US$250 million IPO in Hong Kong and the U.S. due to disagreement with its share arrangers and other advisers over its profit outlook, reported Shanghai Daily. The company issued a statement in January 2003 to the U.S. Securities and Exchange Commission citing unfavorable market conditions as the reason for the discontinuation of its IPO plans.

Co-founded by former oil ministry employee Pan Shiyi and his wife, former Goldman Sachs analyst Zhang Xin, SOHO China is a real estate developer focusing on large-scale, avant-garde residential and office properties in Beijing’s CBD area.