On 21 October, with Goldman Sachs (Asia) L.L.C. as the placing agent, China Resources Land（”CR Land”）placed a total of 200 million shares through a placing of existing shares and top-up subscription for new shares. The placing price of HK$33.65 per share represented a discount of approximately 6.9% to the closing price of the last trading day. The total number of placing shares represented approximately 2.9% of the issued share capital of the Company as at the date of the announcement and approximately 2.8% of the issued share capital of the Company as enlarged by the subscription.

The net proceeds from the subscription are estimated to be approximately HK$6.72 billion and the order book was oversubscribed from global institutions, demonstrating the confidence of the capital market towards the share price of CR Land.

CR Land intends to use the net proceeds from the subscription for acquisition and development of the land in relation to the projects and as the general working capital. The share placement will give a boost to the financial strength of CR Land and provide strong support for the Company's future development.