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Sino Land to Raise Up to $534 Million in Placing, Standard Says

Sino Land Co. aims to raise as much as HK$4.14 billion ($534 million) in private placement of 242 million shares to be priced in the range of HK$16.60 to HK$17.10 each, the Standard said, citing a term sheet.

The developer plans to use the proceeds from the sale for “general corporate purposes,” the Hong Kong-based English-language newspaper reported today. Goldman Sachs (Asia) is the placing agent for the sale, the Standard said.

The stock fell 1.7 percent to HK$18.28 in Hong Kong yesterday.

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