Future Land joins year-end IPO hopefuls

The Chinese property developer seeks to raise as much as $328 million ahead of a Hong Kong listing after CIFI prices its offering at a 69% discount to NAV.

With little more than a month left of the year, IPO activity in Hong Kong has started to gather pace in recent weeks. Listing hopefuls in the pipeline include PICC Group, which is expected to raise somewhere between $3 billion and $4 billion from its high-profile H-share IPO that is scheduled to launch on Thursday.

The latest company to hit market is Future Land Development, a Chinese property developer that opened the order books yesterday for a Hong Kong IPO of between HK$2.06 billion and HK$2.54 billion $265 million to $328 million.

Before the launch, Future Land had signed up three cornerstone investors, as...

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