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CJ Land to raise up to US$619m in HK IPO

HONG KONG: Chinese property developer CJ Land Holdings is set to raise up to US$619 million (RM1.92 billion) in an initial public offering (IPO) in Hong Kong, according to a term sheet obtained by Reuters on Monday, Oct 25.

CJ Land is set to sell one billion shares at a price between HK$3.20 and HK$4.80 (RM1.28 and RM1.92) per share. The offering size will increase to between US$474 million and US$711 million after a greenshoe option, the term sheet showed.

The issue will be priced on Nov 3 and trading of the shares is expected to begin on Nov 11.

Citigroup, BofA Merrill Lynch are joint sponsors of the issue. — Reuters
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