CJ Land seeks $618 million from Hong Kong IPO

The Shanghai-based luxury property developer kicks off its institutional roadshow, while Chinese baby formula producer Yashili International raises $349 million ahead of its Hong Kong listing.

CJ Land, a Chinese luxury property developer, plans to raise up to HK$4.8 billion $618 million from a Hong Kong initial public offering to fund land reserve expansion.

The company comes to market only days after the Chinese government raised interest rates -- a move that surprised a large portion of the market, but which is in line with Beijing’s plan to shift focus from the over-emphasised GDP data to a more balanced growth in its next five-year...

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