China Resources Land seeks HK IPO
(China Daily)Updated: 2007-05-09 10:07
China Resources Land Ltd is seeking HK$4 billion from a
share sale, according to a term sheet sent to fund managers. The company is
selling 400 million new shares, or 10.7 percent of its enlarged share capital,
at HK$9.81 to HK$10.02 each, according to the document.
China Resources Land is the third Hong Kong-listed mainland developer in the past week to sell additional shares to institutional investors who hope tightening of the real estate industry will benefit the nation's larger developers by reducing competition.
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