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
Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.