UPDATE 1-SYSWIN IPO prices at low-end of expected range

* Sells 9.6 mln ADS at $7 per ADS to raise $67.2 mln

* Red hot China property market seen as bubble threat

* Pricing comes as global markets sell off on Korea, euro fears

(Adds detail)

Nov 24 (BestGrowthStock) – Chinese real estate consultant SYSWIN Inc
raised $62.7 million after pricing shares in its initial public offering at
the lower end of its previously forecast range.

The Beijing-based company said its offering of 9.6 million American
Depositary Shares was priced at $7 per ADS. It had earlier planned to price
the IPO between $7 and $8 per ADS. Still earlier, it had planned to sell 12
million ADS for $9.25 to $11.25 each.

SYSWIN provides primary real estate services, including project
consultancy, in 17 Chinese cities including Beijing Tianjin, Qingdao and Jinan.

China’s red-hot property sector, buoyed by economic growth, increased
levels of disposable income and a growing trend toward urbanization, is widely
viewed as a potential bubble and the state has taken efforts to cool it,
including repeatedly increasing mortgage down payments.

SYSWIN’s top clients include Chinese developers China Vanke Co Ltd
, Longfor Properties Co , Sino-Ocean Land Holdings,
Guangzhou R&F Properties Co Ltd and Gemdale Group. More than 70
percent of SYSWIN’s revenue in each of the past three full years has come from
five clients.

Underwriters for the IPO were led by Morgan Stanley. William Blair & Co,
Oppenheimer & Co and Roth Capital Partners were co-managers for the offering.

The stock is expected to begin trading on the New York Stock Exchange on
Wednesday under the symbol “SYSW.”
(Reporting by S. John Tilak in Bangalore and Clare Baldwin in New York;
Editing by Lincoln Feast)

UPDATE 1-SYSWIN IPO prices at low-end of expected range