China Vanke is spinning off its property management services unit in Hong Kong. Should investors part with their cash to buy into the new US$1 billion listing? Recent stock performances of its peers suggest they should look elsewhere. Investors have lost a combined HK$2.1 billion (US$264.5 million) in market value since five such Chinese residential services firms completed their initial public offerings (IPOs) this year, according to data compiled by the Post .

China’s property crisis sinks all as Vanke services arm faces investors in Hong Kong’s moribund IPO market comes via ChinaTechNews.com.