Future Land Development raises around US$265m in IPO

Chinese property company Future Land Development has raised about US$265 million in a Hong Kong initial public offering, pricing the deal at the bottom of its proposed range in the latest sign of the tough fund-raising environment in the city.

Future Land, which focuses on projects in the Yangtze River Delta, China’s most populous area which includes cities such as Shanghai, priced the IPO at HK$1.45 per share, according to a term sheet of the deal seen by Reuters. The stock will start trading on November 29.

via Business feed http://www.scmp.com/business/companies/article/1088983/future-land-development-raises-around-us265m-ipo