The company, the property services division of developer China Vanke, is selling 116.74 million shares at a maximum price of HK$52.7 each.
China Vanke, which is the country's second largest property developer by sales, owns 57.1% of Onewo, the company's regulatory filings show.
($1 = 7.8490 Hong Kong dollars)
(Reporting by Scott Murdoch; Editing by Muralikumar Anantharaman)