Sunac raises $337 million in HK IPO-source

HONG KONG, Sept 30 Thu Sep 30, 2010 4:37am EDT

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HONG KONG, Sept 30 (Reuters) - Chinese property firm Sunac China Holding raised US$337 million when it priced its Hong Kong initial public offering near the middle of an indicated range, a source familiar with the deal said on Thursday.

Sunac sold 750 million shares at HK$3.48 each, compared with a range of HK$3.18 to HK$3.98 per share, the source said.

China's CIC has bought $25 million worth of shares of Sunac's IPO, another source told Reuters earlier.

Sunac's trading debut is set for Oct. 7. Deutsche Bank (DBKGn.DE) and Goldman Sachs (GS.N) are handling the IPO.

(US$1=HK$7.75)

(Editing by Ken Wills)

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