SYSWIN, a leading primary real estate service provider in China with operations in 17 cities, announced terms for its IPO on Wednesday. The Beijing-based company plans to raise $123 million by offering 12 million ADSs at a price range of $9.25-$11.25. At the mid-point of the proposed range, SYSWIN will command a market value of $495 million. SYSWIN, which was founded in 2007 and booked $65 million in sales last year, plans to list on the NYSE under the symbol SYSW. Morgan Stanley is the lead underwriter on the deal, which is expected to price during the week of November 22.
