China Vanke property services unit Onewo targets up to US$1.5 billion in Hong Kong IPO

Onewo, the property services unit of property developer China Vanke, has received the go-ahead from the Hong Kong stock exchange's listing committee for an initial public offering (IPO), and will start the investor education process this week, said a source close to the transaction. The Shenzhen-based firm is aiming to raise between US$1 billion and US$1.5 billion, with a share sale scheduled for later this month, said the source, who is not authorised to speak publicly about the deal. Onewo's IPO schedule could change as it is subject to market conditions. Onewo's IPO will come at a tough time for…