Jan. 29, 2007 (China Knowledge) – Merrill Lynch, Deutsche Bank and Singapore's Temasek Holdings have invested US$400 million in Chinese property developer Hengda Real Estate.

The three international strategic investors had jointly bought an 8% stake in Hengda, which is planning a Hong Kong IPO to raise US$500 million to US$750 million in the second half of 2007.

HSBC <HSBA><5>, Citigroup, UBS and other banks were also in contact with Hengda, which was likely to raise another US$500 million through overseas channels in the near term before its Hong Kong listing, said unnamed sources to the official Shanghai Securities News.