Delay not an issue for CR Land’s $1.3bn block

Property developer China Resources Land (CR Land) took advantage of the recent rate cut in China to tap the equity capital market for funding with a large HK$10.1bn ($1.3bn) block on May 12. Despite the encouraging result, it was not all smooth sailing for the issuer, which saw one bookrunner leave the syndicate and its bookbuilding delayed by a day.