CR Land placed 400 million shares at HK$25.25 per share to the capital market through top up placing on May 12, representing a 7% discount from the closing price of HK$27.15 per share on May 11. Jointly underwritten by BOC International, CICC, JP Morgan and Morgan Stanley, the placement accounted for 6.12% of the pre-issue outstanding shares and 5.77% of the post-issue outstanding shares.

CR Land raised HK$10.1 billion through the placement, the second largest top up placing in the Hong Kong capital market in 2015 and also the largest for a real estate company. Subscribers include several large institutional investors and sovereign wealth funds in the world, indicating the capital market's recognition of and confidence in CR Land.

The raised capital will mainly be used to meet CR Land's capital demand for construction and installation expenses, land price payment and other operations. The placement will enhance CR Land's financial strength and strongly boost its development.