IN BRIEF (Page 13)

CJ Land targets $618m for IPO

CJ Land Holdings Ltd, a developer in East China, plans to raise up to HK$4.8 billion ($618 million) in an initial public offering (IPO) in Hong Kong to acquire land and repay loans, according to a term sheet sent to investors on Monday.

One billion shares in CJ Land are being offered at HK$3.20 to HK$4.80 each, according to the document. BOC International Holdings Ltd, Bank of America Corp's Merrill Lynch unit, Citigroup Inc and Macquarie Group Ltd are managing the sale.

Datang shares up on Q3 profit

Datang International Power Generation Co, China's biggest publicly traded electricity producer by market value, rose in Hong Kong trading after announcing that its third quarter profit more than doubled.

The shares climbed as much as 2.76 percent, the most since Oct 15.

Datang said on Sunday that its third quarter net income rose to 766.7 million yuan ($115 million) from 365.8 million in the same period last year.

Bloomberg News

(China Daily 10/26/2010 page13)