Shui On Land sells stock as Lumena prices IPO

10 Jun 2009

Shui On Land was set to raise $260m through the sale of 418.6m shares on Wednesday night and chemical company Lumena Resources prepared to price its initial public offering as Asia's primary equity markets continued to gather pace.

Shui On Investment, a sister company, was offering shares in Shui On Land at HK$4.82-HK$4.93, a discount of 6%-8% to Wednesday's closing price. The deal comes just days after Shui On reported sales of just over Rmb1bn ($145m) for the first five months of 2009, up slightly on ...

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