Future Land raises $265 million from Hong Kong IPO

The price is fixed at the bottom of the range, valuing the Chinese property developer at a 73% discount to NAV.

Future Land raises $265 million from Hong Kong IPO

Future Land Development, a Chinese property developer, has raised HK$2.06 billion $265 million from its Hong Kong initial public offering after fixing the price at the bottom of the range.

The deal attracted a good mix of long-only and hedge fund investors, with most of the orders coming from Asia, a source said on Friday. However, the retail portion of the deal was reduced to 2.5% from 10%, due to weak demand from retail...

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