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China developers flock to spin off property management arms

IPOs raise $5bn this year, favored by investors over debt-laden parent companies

The property management unit of Sunac China debuted on the Hong Kong stock market on Nov. 19.   © Reuters

HONG KONG -- China's indebted real estate developers are rushing to list their property management arms on stock exchanges, pushed by eager investors and Beijing's new restrictions on unbridled borrowing.

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