Yanlord Land Group, a property developer, is seeking to raise S$525m by selling shares and convertible bonds to fund investments in China.

Yanlord, listed in Singapore, plans to sell 120 million shares at S$2.08 apiece for a total of S$250m, according to a statement to the city’s stock exchange today. That’s a 10% discount to the last traded price of S$2.31 before the stock was halted from trading yesterday.

The shares fell as much as 6.9% to S$2.15 and changed hands at S$2.23.