Kaisa attracts subscription from Henderson Land

Nov. 23, 2009 (China Knowledge) - Chinese property developer Kaisa Group Holdings Ltd has attracted well-known enterprises such as Henderson Land Development Co Ltd<0012> to subscribe for the new shares issued by the group, sources reported.

Henderson Land Chairman Lee Shau-kee will subscribe to the institutional tranche of the HK$4.45 billion float, while Temasek Holdings and Carlyle Group will be strategic investors.

Kaisa has raised a total of HK$468 million from four cornerstone investors. New World Development<0017> Chairman Cheng Yu-tung and toy tycoon Francis Choi Chee-ming each agreed to invest in US$20 million. Chinese Estates<0127> Chairman Joseph Lau Luen-hung and Alex Yeung, younger son of Emperor Group Chairman Albert Yeung Sau-shing, have agreed to buy US$10 million each.

Emperor Securities, as the vice lead manager, helped introduce cornerstone investors to Kaisa. Credit Suisse and BOC International Holdings Ltd have been hired as the joint sponsors of the share offering.

Kaisa, which will list 1 billion new shares at HK$3.45 to HK$4.45 apiece, will launch its road show on Tuesday.