Mainland developer Shanghai Forte Land is raising up to HK$1.16 billion for a listing on the Hong Kong stock exchange. It will sell 455.9 million shares between HK$1.95 and HK$2.55 each. Sources said 90 per cent of the shares would be sold to institutional investors and the balance to the public through a share offering on February 25 to 28. The final price will be fixed on March 1 and trading will begin on March 6.