Sunshine, which is backed by private equity major Warburg Pincus, priced its IPO at KH$4 per share, said Reuters.
This was at the bottom end of its indicative range of between HK$4 and HK$4.8 per share.
The company currently has property projects in 17 cities including Beijing, Tianjin, Chongqing and Changsha.
Earlier this month Chinese healthcare services company iKang Healthcare Group filed to raise $150m via an IPO on the Nasdaq exchange.
Singapore sovereign wealth fund GIC owns a 13.6 per cent stake in the company, while Goldman Sachs and NewQuest Asia own 10.5 per cent and 7.8 per cent, respectively.
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