It was reported today on Blogging Stocks that the company with the exclusive franchise rights to the Century 21 brand in China, IFM, has started to fill out the needed paperwork to proceed with an IPO.
So far, IFM has the largest network of real estate offices in China, with more than 1,000 locations across 34 major cities. There are roughly 14,900 agents and staff, which manage 4.7 million property listings. With its heft, IFM is ranked #3 in terms of real estate volume in China.
Morgan Stanley and Goldman Sachs are reportedly the lead underwriters on the IPO.