Fantasia flotation

Shenzhen-based developer Fantasia Holdings Group hopes to raise about HK$3.21 billion in a Hong Kong initial public offering. Chairman Pan Jun said yesterday the firm's profit margin was 41.4 per cent in the first half, against 29.4 per cent a year ago. The company has secured HK$500 million from six cornerstone investors, including China Poly Group, CC Land Holdings chairman Cheung Chung-kiu and Francis Choi Chee-min, the chairman of Early Light International.